Kornitzer Capital Management Inc. KS Sells 10,180 Shares of Suncor Energy Inc. $SU

Kornitzer Capital Management Inc. KS reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 185,208 shares of the oil and gas producer’s stock after selling 10,180 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Suncor Energy were worth $7,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after acquiring an additional 3,115 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Suncor Energy by 172.5% during the 1st 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. Independence Bank of Kentucky boosted its holdings in Suncor Energy by 13.2% in the 2nd quarter. Independence Bank of Kentucky now owns 8,599 shares of the oil and gas producer’s stock worth $322,000 after buying an additional 1,002 shares during the period. Janney Montgomery Scott LLC increased its stake in Suncor Energy by 3.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 36,328 shares of the oil and gas producer’s stock worth $1,360,000 after buying an additional 1,076 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Suncor Energy by 1.8% during the second quarter. Truist Financial Corp now owns 51,441 shares of the oil and gas producer’s stock valued at $1,926,000 after acquiring an additional 886 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on SU shares. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Wells Fargo & Company assumed coverage on shares of Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating for the company. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group raised their price target on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of $57.67.

Suncor Energy Trading Up 1.5%

Shares of SU opened at $51.93 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.85. The firm has a market capitalization of $61.97 billion, a price-to-earnings ratio of 17.02 and a beta of 0.46. The company has a 50-day moving average of $45.51 and a 200 day moving average of $42.29. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $52.11.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.22. The firm had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same quarter in the previous year, the firm posted $1.48 earnings per share. On average, research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.6%. The ex-dividend date was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio (DPR) is currently 56.39%.

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.