Suncor Energy Inc. $SU Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,160 shares of the oil and gas producer’s stock after selling 13,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Suncor Energy were worth $6,027,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Suncor Energy by 45.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 723,965 shares of the oil and gas producer’s stock worth $29,871,000 after purchasing an additional 227,197 shares during the last quarter. Ascent Group LLC raised its position in shares of Suncor Energy by 30.5% in the third quarter. Ascent Group LLC now owns 7,527 shares of the oil and gas producer’s stock valued at $315,000 after buying an additional 1,758 shares during the last quarter. Baron Wealth Management LLC lifted its stake in shares of Suncor Energy by 9.0% in the third quarter. Baron Wealth Management LLC now owns 10,883 shares of the oil and gas producer’s stock worth $455,000 after buying an additional 901 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in shares of Suncor Energy by 1.2% in the third quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer’s stock worth $987,000 after buying an additional 272 shares in the last quarter. Finally, Trust Co. of Toledo NA OH boosted its position in Suncor Energy by 1.8% during the third quarter. Trust Co. of Toledo NA OH now owns 24,622 shares of the oil and gas producer’s stock worth $1,029,000 after acquiring an additional 428 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SU has been the subject of a number of recent research reports. Wells Fargo & Company started coverage on shares of Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating for the company. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research note on Monday. Finally, Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $65.00.

Suncor Energy Trading Down 0.3%

SU opened at $44.37 on Friday. The stock has a market capitalization of $53.17 billion, a PE ratio of 14.55 and a beta of 0.46. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $45.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The business’s 50 day moving average price is $43.17 and its 200 day moving average price is $41.07.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a yield of 5.4%. Suncor Energy’s dividend payout ratio is currently 56.39%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.