Reliance Trust Co. of Delaware trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,051 shares of the oil and gas producer’s stock after selling 8,720 shares during the quarter. Reliance Trust Co. of Delaware’s holdings in Suncor Energy were worth $2,401,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Bessemer Group Inc. acquired a new stake in Suncor Energy in the second quarter valued at approximately $111,000. Mount Yale Investment Advisors LLC acquired a new stake in Suncor Energy in the first quarter valued at approximately $114,000. Hirtle Callaghan & Co LLC acquired a new stake in Suncor Energy in the second quarter valued at approximately $163,000. First Manhattan Co. boosted its stake in Suncor Energy by 136.0% in the second quarter. First Manhattan Co. now owns 4,000 shares of the oil and gas producer’s stock valued at $162,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Greenwich Investment Management Inc. acquired a new stake in Suncor Energy in the second quarter valued at approximately $201,000. 65.59% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Saturday, July 7th. Mizuho assumed coverage on shares of Suncor Energy in a research note on Monday, July 23rd. They set a “buy” rating for the company. CIBC assumed coverage on shares of Suncor Energy in a research note on Friday, October 5th. They set a “sector outperform” rating for the company. Macquarie upgraded shares of Suncor Energy from a “neutral” rating to an “outperform” rating in a research note on Tuesday, October 9th. Finally, JPMorgan Chase & Co. downgraded shares of Suncor Energy from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 11th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $49.17.
NYSE:SU opened at $33.85 on Wednesday. Suncor Energy Inc. has a 12 month low of $31.33 and a 12 month high of $42.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.56. The firm has a market cap of $54.80 billion, a PE ratio of 22.42, a P/E/G ratio of 1.42 and a beta of 0.85.
Suncor Energy Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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