Suncor Energy Inc. $SU Stock Holdings Trimmed by State of Wyoming

State of Wyoming lessened its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 81.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,088 shares of the oil and gas producer’s stock after selling 18,240 shares during the period. State of Wyoming’s holdings in Suncor Energy were worth $270,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SU. NewEdge Wealth LLC raised its position in shares of Suncor Energy by 8.2% during the 1st quarter. NewEdge Wealth LLC now owns 1,082,177 shares of the oil and gas producer’s stock valued at $71,543,000 after acquiring an additional 81,565 shares in the last quarter. First Trust Advisors LP boosted its holdings in Suncor Energy by 9.2% in the first quarter. First Trust Advisors LP now owns 260,952 shares of the oil and gas producer’s stock worth $17,250,000 after purchasing an additional 22,076 shares during the period. Barometer Capital Management Inc. acquired a new position in Suncor Energy in the first quarter worth $9,984,000. Burling Wealth Partners LLC increased its stake in Suncor Energy by 22.8% during the first quarter. Burling Wealth Partners LLC now owns 74,712 shares of the oil and gas producer’s stock valued at $4,939,000 after purchasing an additional 13,878 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Suncor Energy during the first quarter worth $53,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Weiss Ratings lowered shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada raised their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $71.67.

Suncor Energy Stock Performance

SU opened at $64.01 on Wednesday. The business’s 50 day moving average is $60.68 and its 200-day moving average is $59.74. The stock has a market cap of $75.58 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 0.48 and a beta of 0.30. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (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 business had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. On average, analysts predict that Suncor Energy Inc. will post 7.11 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s payout ratio is 45.67%.

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.