Bank of New York Mellon Corp Sells 237,830 Shares of Suncor Energy Inc. $SU

Bank of New York Mellon Corp cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,827,979 shares of the oil and gas producer’s stock after selling 237,830 shares during the period. Bank of New York Mellon Corp’s holdings in Suncor Energy were worth $125,449,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of Suncor Energy by 22.6% in the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 193 shares in the last quarter. Bryn Mawr Trust Advisors LLC lifted its stake in Suncor Energy by 3.5% in the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock valued at $255,000 after purchasing an additional 196 shares during the last quarter. Chesapeake Capital Corp IL lifted its stake in Suncor Energy by 0.9% in the fourth quarter. Chesapeake Capital Corp IL now owns 22,741 shares of the oil and gas producer’s stock valued at $1,009,000 after purchasing an additional 203 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 225 shares during the last quarter. Finally, Accent Capital Management LLC lifted its stake in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Down 4.9%

Shares of SU stock opened at $62.28 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. Suncor Energy Inc. has a 52-week low of $36.60 and a 52-week high of $70.29. The company has a market capitalization of $73.54 billion, a PE ratio of 16.35 and a beta of 0.27. The business’s fifty day moving average is $65.31 and its 200 day moving average is $55.76.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the company earned $1.31 EPS. On average, equities research analysts anticipate that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a $0.60 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 3.9%. Suncor Energy’s dividend payout ratio (DPR) is 45.67%.

Wall Street Analysts Forecast Growth

SU has been the topic of several research analyst reports. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada upped their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.67.

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.