Arrowstreet Capital Limited Partnership Sells 1,554,010 Shares of Suncor Energy Inc. $SU

Arrowstreet Capital Limited Partnership trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,781,229 shares of the oil and gas producer’s stock after selling 1,554,010 shares during the period. Arrowstreet Capital Limited Partnership owned 0.99% of Suncor Energy worth $522,765,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Suncor Energy in the 2nd quarter valued at $31,000. Smartleaf Asset Management LLC lifted its stake in shares of Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 388 shares during the last quarter. Accent Capital Management LLC lifted its stake in shares of Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares during the last quarter. Finally, Maseco LLP bought a new position in Suncor Energy during the 4th quarter worth $39,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Down 0.4%

Shares of NYSE:SU opened at $61.56 on Friday. The firm has a market cap of $72.69 billion, a P/E ratio of 16.16 and a beta of 0.27. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 12-month low of $37.22 and a 12-month high of $70.29. The business has a fifty day simple moving average of $64.94 and a 200 day simple moving average of $56.36.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The company had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business earned $1.31 earnings per share. Analysts predict that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio (DPR) is 45.41%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research report on Friday, June 5th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings lowered Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada raised their target price on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Finally, Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

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.