Bessemer Group Inc. Sells 19,785 Shares of Suncor Energy Inc. $SU

Bessemer Group Inc. decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 21.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 74,040 shares of the oil and gas producer’s stock after selling 19,785 shares during the period. Bessemer Group Inc.’s holdings in Suncor Energy were worth $3,095,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SU. Archford Capital Strategies LLC lifted its stake in 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 valued at $987,000 after buying an additional 272 shares during the period. Richardson Financial Services Inc. increased its stake in shares of Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. IFP Advisors Inc raised its position in shares of Suncor Energy by 27.6% in the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 309 shares during the period. Transamerica Financial Advisors LLC boosted its stake in Suncor Energy by 18.4% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 2,081 shares of the oil and gas producer’s stock worth $78,000 after acquiring an additional 323 shares during the last quarter. Finally, Sagespring Wealth Partners LLC grew its holdings in Suncor Energy by 7.1% during the third quarter. Sagespring Wealth Partners LLC now owns 6,342 shares of the oil and gas producer’s stock valued at $265,000 after purchasing an additional 421 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SU has been the topic of several analyst reports. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Wall Street Zen cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Wells Fargo & Company began coverage on Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating on the stock. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Finally, Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Suncor Energy Price Performance

Shares of NYSE SU opened at $53.82 on Friday. The company has a fifty day moving average price of $46.89 and a 200 day moving average price of $43.05. The firm has a market cap of $64.24 billion, a PE ratio of 15.51 and a beta of 0.46. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $55.30.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same period in the previous year, the company posted $1.25 earnings per share. Research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 49.57%.

About Suncor Energy

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.