Barings LLC Decreases Stock Holdings in Suncor Energy Inc. $SU

Barings LLC trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 75.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,175 shares of the oil and gas producer’s stock after selling 266,680 shares during the quarter. Barings LLC’s holdings in Suncor Energy were worth $3,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC increased its stake in shares of 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 worth $28,000 after buying an additional 225 shares during the period. Smartleaf Asset Management LLC increased its position 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 valued at $33,000 after purchasing an additional 388 shares during the period. Headlands Technologies LLC purchased a new position in Suncor Energy during the 2nd quarter valued at $31,000. Accent Capital Management LLC increased its position 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 valued at $37,000 after purchasing an additional 225 shares during the period. Finally, Maseco LLP purchased a new position in Suncor Energy during the 4th quarter valued at $39,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SU has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Weiss Ratings downgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Five investment 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 an average rating of “Moderate Buy” and a consensus target price of $71.67.

Suncor Energy Stock Down 0.5%

Shares of Suncor Energy stock opened at $61.81 on Friday. Suncor Energy Inc. has a 12-month low of $37.22 and a 12-month high of $70.29. The company has a market cap of $72.98 billion, a P/E ratio of 16.22 and a beta of 0.27. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $65.01 and its two-hundred day simple moving average is $56.33.

Suncor Energy (NYSE:SU) (TSE:SU) last announced 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 business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm posted $1.31 EPS. Research analysts anticipate that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders 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 payout ratio is 45.67%.

Suncor Energy 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.