Locust Wood Capital Advisers LLC Reduces Stake in Suncor Energy Inc. $SU

Locust Wood Capital Advisers LLC lowered its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,784,089 shares of the oil and gas producer’s stock after selling 466,337 shares during the quarter. Suncor Energy accounts for approximately 1.9% of Locust Wood Capital Advisers LLC’s holdings, making the stock its 24th biggest holding. Locust Wood Capital Advisers LLC owned 0.15% of Suncor Energy worth $79,142,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in shares of Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. grew its holdings in Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,254 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Suncor Energy by 21.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 464 shares during the period. AXA S.A. grew its stake in shares of Suncor Energy by 17.2% during the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after buying an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after buying an additional 4,043 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group downgraded 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. Finally, Weiss Ratings downgraded Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Suncor Energy Price Performance

SU stock opened at $62.28 on Monday. Suncor Energy Inc. has a 52-week low of $36.60 and a 52-week high of $70.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The stock has a market cap of $73.54 billion, a price-to-earnings ratio of 16.35 and a beta of 0.27. The business has a fifty day moving average of $65.31 and a two-hundred day moving average of $55.84.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 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 during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. As a group, research analysts anticipate that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s payout ratio is currently 45.41%.

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.