Suncor Energy Inc. $SU Stock Holdings Lessened by Cannell & Spears LLC

Cannell & Spears LLC reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 63.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 11,500 shares of the oil and gas producer’s stock after selling 20,300 shares during the quarter. Cannell & Spears LLC’s holdings in Suncor Energy were worth $760,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SU. Vanguard Group Inc. increased its stake in Suncor Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock valued at $2,473,173,000 after buying an additional 1,166,405 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Suncor Energy by 121.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after acquiring an additional 14,304,131 shares in the last quarter. FIL Ltd grew its holdings in shares of Suncor Energy by 14.0% during the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock valued at $934,312,000 after acquiring an additional 2,592,516 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Suncor Energy by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock worth $860,933,000 after acquiring an additional 516,783 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Suncor Energy by 8.3% in the fourth quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock worth $746,176,000 after acquiring an additional 1,289,959 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SU shares. Weiss Ratings lowered Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research report on Friday, June 5th. Royal Bank Of Canada raised their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Finally, Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $71.67.

Suncor Energy Stock Performance

Shares of SU opened at $65.84 on Friday. The company’s fifty day moving average is $60.91 and its 200-day moving average is $59.38. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The firm has a market cap of $77.74 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share 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 in the prior year, the business posted $1.31 EPS. Equities analysts expect that Suncor Energy Inc. will post 7.11 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 45.67%.

Suncor Energy Company 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.