Shell Asset Management Co. Sells 79,425 Shares of Suncor Energy Inc. $SU

Shell Asset Management Co. trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 77.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,657 shares of the oil and gas producer’s stock after selling 79,425 shares during the quarter. Shell Asset Management Co.’s holdings in Suncor Energy were worth $990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SU. Metis Global Partners LLC boosted its stake in shares of Suncor Energy by 14.8% in the 3rd quarter. Metis Global Partners LLC now owns 103,994 shares of the oil and gas producer’s stock valued at $4,352,000 after purchasing an additional 13,442 shares during the last quarter. Assetmark Inc. lifted its holdings in Suncor Energy by 89.4% in the third quarter. Assetmark Inc. now owns 11,545 shares of the oil and gas producer’s stock valued at $483,000 after buying an additional 5,450 shares during the period. Caprock Group LLC acquired a new position in Suncor Energy in the third quarter valued at approximately $1,166,000. Advisors Asset Management Inc. boosted its stake in Suncor Energy by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 43,083 shares of the oil and gas producer’s stock valued at $1,801,000 after acquiring an additional 301 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in Suncor Energy during the 3rd quarter worth $273,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

SU stock opened at $55.96 on Tuesday. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $56.46. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a market cap of $66.59 billion, a PE ratio of 16.13 and a beta of 0.45. The business’s 50-day moving average price is $48.20 and its two-hundred day moving average price is $43.74.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 49.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Finally, Royal Bank Of Canada upped their price target on Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.00.

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.