Suncor Energy Inc. $SU Stock Position Reduced by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 38.3% during the 3rd quarter, Holdings Channel reports. The fund owned 35,651 shares of the oil and gas producer’s stock after selling 22,121 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Suncor Energy were worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Livelsberger Financial Advisory acquired a new position in Suncor Energy during the 3rd quarter worth $25,000. Versant Capital Management Inc increased its holdings in shares of Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares during the period. Continuum Advisory LLC acquired a new position in shares of Suncor Energy during the second quarter valued at $27,000. Sawyer & Company Inc acquired a new position in shares of Suncor Energy during the third quarter valued at $44,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Suncor Energy during the first quarter valued at about $53,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $68.74 on Monday. The stock has a fifty day moving average price of $71.61 and a two-hundred day moving average price of $63.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.27 and a current ratio of 1.71. The firm has a market cap of $79.64 billion, a P/E ratio of 10.11, a PEG ratio of 0.23 and a beta of 0.22. Suncor Energy Inc. has a 1 year low of $42.03 and a 1 year high of $80.25.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.49. Suncor Energy had a return on equity of 25.55% and a net margin of 17.49%. The company had revenue of $13.26 billion for the quarter, compared to analysts’ expectations of $11.85 billion. During the same period last year, the firm earned $1.48 EPS. Research analysts forecast that Suncor Energy Inc. will post 8.78 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Thursday, December 3rd will be paid a dividend of C$0.66 per share. This is an increase from Suncor Energy’s previous quarterly dividend of C$0.60. This represents a $2.64 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is 25.44%.

Analysts Set New Price Targets

SU has been the subject of several research analyst reports. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $81.71.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products.

The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.

Suncor traces its roots to Great Canadian Oil Sands, which began commercial oil sands production in Alberta in 1967.