AustralianSuper Pty Ltd Sells 757,490 Shares of Suncor Energy Inc. $SU

AustralianSuper Pty Ltd reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 35.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,369,647 shares of the oil and gas producer’s stock after selling 757,490 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Suncor Energy were worth $57,304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. increased its holdings in shares of Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 275 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy during the 2nd quarter valued at $31,000. Hanson & Doremus Investment Management grew its position in Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 465 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Suncor Energy during the 2nd quarter worth $37,000. Finally, Corsicana & Co. acquired a new position in Suncor Energy in the 3rd quarter worth about $42,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on SU. The Goldman Sachs Group lifted their price target on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. Finally, JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $57.67.

Suncor Energy Trading Up 1.9%

SU opened at $53.00 on Thursday. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $53.19. The company has a fifty day moving average of $45.67 and a 200-day moving average of $42.37. The stock has a market cap of $63.25 billion, a PE ratio of 17.38 and a beta of 0.46. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly 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 net margin of 10.61% and a return on equity of 13.01%. The business had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were paid a dividend of $0.60 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Wednesday, December 3rd. Suncor Energy’s payout ratio is 56.39%.

Suncor Energy 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.