Traders Sell Shares of Suncor Energy Inc. (SU) on Strength (SU)
Traders sold shares of Suncor Energy Inc. (NYSE:SU) on strength during trading hours on Wednesday. $17.56 million flowed into the stock on the tick-up and $56.38 million flowed out of the stock on the tick-down, for a money net flow of $38.82 million out of the stock. Of all equities tracked, Suncor Energy had the 12th highest net out-flow for the day. Suncor Energy traded up $0.23 for the day and closed at $27.58
A number of equities analysts have recently issued reports on SU shares. Scotiabank reiterated an “outperform” rating and issued a $38.00 price objective on shares of Suncor Energy in a report on Sunday, July 31st. Simmons cut their price objective on Suncor Energy from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Tuesday, July 5th. Citigroup Inc. cut Suncor Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $38.00 to $40.00 in a report on Wednesday, April 20th. Zacks Investment Research cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday. Finally, Vetr upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $29.87 price objective for the company in a report on Monday, April 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $38.59.
The company’s 50-day moving average price is $27.30 and its 200-day moving average price is $26.47. The firm’s market capitalization is $45.91 billion.
Suncor Energy (NYSE:SU) last issued its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.15. During the same period in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts forecast that Suncor Energy Inc. will post ($0.23) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Tuesday, September 6th will be issued a $0.2194 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.88 annualized dividend and a dividend yield of 3.18%.
Several large investors have recently modified their holdings of SU. I.G. Investment Management LTD. boosted its stake in shares of Suncor Energy by 5.7% in the fourth quarter. I.G. Investment Management LTD. now owns 6,780,797 shares of the company’s stock valued at $175,135,000 after buying an additional 363,655 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Suncor Energy during the fourth quarter valued at about $99,722,000. Dimensional Fund Advisors LP boosted its stake in shares of Suncor Energy by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,500,280 shares of the company’s stock valued at $90,307,000 after buying an additional 16,041 shares during the period. Systematic Financial Management LP boosted its stake in shares of Suncor Energy by 15.4% in the fourth quarter. Systematic Financial Management LP now owns 660,703 shares of the company’s stock valued at $17,046,000 after buying an additional 88,300 shares during the period. Finally, Foresters Investment Management Company Inc. boosted its stake in shares of Suncor Energy by 1.8% in the fourth quarter. Foresters Investment Management Company Inc. now owns 604,467 shares of the company’s stock valued at $15,595,000 after buying an additional 10,800 shares during the period.
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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