Suncor Energy Inc. (SU) Trading Down 1.9%
Suncor Energy Inc. (NYSE:SU) traded down 1.9% during trading on Friday . The stock traded as low as $27.85 and last traded at $27.87, with a volume of 1,028,200 shares traded. The stock had previously closed at $28.41.
Several equities research analysts have commented on the company. Zacks Investment Research lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. JPMorgan Chase & Co. assumed coverage on Suncor Energy in a research report on Tuesday, March 22nd. They set a “neutral” rating and a $34.00 target price on the stock. Scotiabank reiterated an “outperform” rating and set a $37.00 target price on shares of Suncor Energy in a research report on Saturday, June 25th. Citigroup Inc. lowered Suncor Energy from a “buy” rating to a “neutral” rating and increased their target price for the company from $38.00 to $40.00 in a research report on Wednesday, April 20th. Finally, Goldman Sachs Group Inc. increased their target price on Suncor Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $38.97.
The stock has a 50 day moving average price of $27.48 and a 200 day moving average price of $26.01. The company’s market capitalization is $44.16 billion.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 3rd were issued a dividend of $0.2289 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.28%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, June 1st.
A number of hedge funds and institutional investors have made changes to their positions in the company. Trexquant Investment LP acquired a new position in shares of Suncor Energy during the fourth quarter worth $1,135,000. Tradition Capital Management LLC raised its position in shares of Suncor Energy by 74.0% in the fourth quarter. Tradition Capital Management LLC now owns 72,270 shares of the company’s stock worth $1,864,000 after buying an additional 30,725 shares in the last quarter. Comerica Bank raised its position in shares of Suncor Energy by 12.0% in the fourth quarter. Comerica Bank now owns 162,940 shares of the company’s stock worth $3,827,000 after buying an additional 17,517 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Suncor Energy by 25.2% in the fourth quarter. Neuberger Berman Group LLC now owns 256,029 shares of the company’s stock worth $6,606,000 after buying an additional 51,575 shares in the last quarter. Finally, UBS Oconnor LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth $7,776,000.
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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