Suncor Energy Inc. $SU Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 48.4% during the third quarter, HoldingsChannel.com reports. The firm owned 171,959 shares of the oil and gas producer’s stock after selling 160,991 shares during the period. Intech Investment Management LLC’s holdings in Suncor Energy were worth $7,198,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Fox Run Management L.L.C. purchased a new stake in shares of Suncor Energy in the third quarter valued at approximately $566,000. MAI Capital Management grew its stake in Suncor Energy by 7.9% in the 3rd quarter. MAI Capital Management now owns 7,240 shares of the oil and gas producer’s stock valued at $303,000 after acquiring an additional 528 shares during the period. Compound Planning Inc. increased its holdings in Suncor Energy by 6.9% in the 3rd quarter. Compound Planning Inc. now owns 15,406 shares of the oil and gas producer’s stock worth $644,000 after acquiring an additional 990 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Suncor Energy by 10.5% during the third quarter. EverSource Wealth Advisors LLC now owns 2,947 shares of the oil and gas producer’s stock worth $123,000 after acquiring an additional 280 shares during the period. Finally, Intelligence Driven Advisers LLC purchased a new position in Suncor Energy during the third quarter valued at $228,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Trading Up 1.8%

Shares of SU opened at $56.50 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $57.13. The firm has a 50-day moving average price of $50.46 and a 200 day moving average price of $44.73. The firm has a market capitalization of $67.23 billion, a P/E ratio of 16.28 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its 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 net margin of 11.99% and a return on equity of 12.51%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. Sell-side analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s payout ratio is presently 49.57%.

Wall Street Analysts Forecast Growth

SU has been the subject of several research analyst reports. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Royal Bank Of Canada lifted their target price on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Finally, The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $61.00.

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.