Pekin Hardy Strauss Inc. Sells 12,265 Shares of Suncor Energy Inc. $SU

Pekin Hardy Strauss Inc. trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,224 shares of the oil and gas producer’s stock after selling 12,265 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Suncor Energy were worth $4,490,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC increased its position in Suncor Energy by 54.9% during 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 acquiring an additional 225 shares during the period. Richardson Financial Services Inc. grew its position in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth approximately $31,000. Smartleaf Asset Management LLC increased its holdings in shares of Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 388 shares during the period. Finally, Maseco LLP bought a new position in shares of Suncor Energy during the fourth quarter worth approximately $39,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE SU opened at $65.10 on Wednesday. The firm’s 50 day simple moving average is $61.56 and its 200 day simple moving average is $51.20. The firm has a market capitalization of $77.09 billion, a price-to-earnings ratio of 18.76 and a beta of 0.32. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 1 year low of $33.50 and a 1 year high of $67.76.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, research analysts expect that Suncor Energy Inc. will post 5.72 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, March 4th. Suncor Energy’s dividend payout ratio is currently 50.43%.

Analysts Set New Price Targets

SU has been the subject of several recent research reports. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. The Goldman Sachs Group lifted their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Royal Bank Of Canada upped their target price on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Buy” and a consensus target price of $72.00.

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.