Intech Investment Management LLC Sells 46,835 Shares of Suncor Energy Inc. $SU

Intech Investment Management LLC reduced its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 27.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,124 shares of the oil and gas producer’s stock after selling 46,835 shares during the period. Intech Investment Management LLC’s holdings in Suncor Energy were worth $5,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. AQR Capital Management LLC grew its holdings in shares of Suncor Energy by 14.2% during the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Suncor Energy by 21.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 464 shares during the last quarter. AXA S.A. boosted its holdings in Suncor Energy by 17.2% in the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after acquiring an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Suncor Energy by 6.4% in the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock valued at $2,514,000 after acquiring an additional 4,043 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada upped their target price on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $72.00.

Suncor Energy Stock Performance

Shares of SU stock opened at $62.34 on Monday. The stock has a market capitalization of $73.60 billion, a PE ratio of 16.36 and a beta of 0.27. Suncor Energy Inc. has a one year low of $35.29 and a one year high of $70.29. The business’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 (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the previous year, the company posted $1.31 earnings per share. As a group, research analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Announces Dividend

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

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.