Arcadia Investment Management Corp MI Sells 17,109 Shares of Suncor Energy Inc. $SU

Arcadia Investment Management Corp MI decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.9% during the 4th quarter, Holdings Channel reports. The firm owned 229,438 shares of the oil and gas producer’s stock after selling 17,109 shares during the quarter. Suncor Energy makes up 1.7% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 20th biggest holding. Arcadia Investment Management Corp MI’s holdings in Suncor Energy were worth $10,178,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC grew its holdings in Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares during the last quarter. Headlands Technologies LLC bought a new stake in Suncor Energy during the 2nd quarter worth about $31,000. Accent Capital Management LLC grew its holdings in Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares during the last quarter. Finally, Maseco LLP bought a new stake in Suncor Energy during the 4th quarter worth about $39,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $62.34 on Monday. The company has a market capitalization of $73.60 billion, a price-to-earnings ratio of 16.36 and a beta of 0.27. The firm’s 50 day simple moving average is $65.25 and its 200 day simple moving average is $55.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a fifty-two week low of $35.29 and a fifty-two week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 46.19%.

Analyst Ratings Changes

SU has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. The Goldman Sachs Group increased their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $72.00.

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.