Suncor Energy Inc. $SU Shares Sold by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,149,688 shares of the oil and gas producer’s stock after selling 360,652 shares during the period. Suncor Energy accounts for 4.1% of Cardinal Capital Management Inc.’s holdings, making the stock its 6th largest position. Cardinal Capital Management Inc.’s holdings in Suncor Energy were worth $169,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after acquiring an additional 1,166,405 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Suncor Energy by 121.4% during the first 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 during the period. FIL Ltd boosted its stake in shares of Suncor Energy by 14.0% in 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 purchasing an additional 2,592,516 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Suncor Energy by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock valued at $860,933,000 after purchasing an additional 516,783 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Suncor Energy by 8.3% in the 4th quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock worth $746,176,000 after purchasing an additional 1,289,959 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.0%

SU opened at $63.35 on Wednesday. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The stock has a market capitalization of $74.80 billion, a PE ratio of 11.67, a PEG ratio of 0.47 and a beta of 0.30. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $60.41 and a two-hundred day moving average price of $60.84.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.8%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $71.67.

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.