Suncor Energy Inc. (SU) Shares Sold by Capital Research Global Investors
Capital Research Global Investors lowered its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 28.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 54,824,381 shares of the oil and gas producer’s stock after selling 21,595,139 shares during the period. Capital Research Global Investors owned 3.30% of Suncor Energy worth $1,601,863,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. AHL Partners LLP grew its holdings in shares of Suncor Energy by 209.7% during the second quarter. AHL Partners LLP now owns 21,556 shares of the oil and gas producer’s stock valued at $630,000 after purchasing an additional 14,595 shares during the last quarter. Capital Guardian Trust Co. lifted its stake in Suncor Energy by 522.5% in the second quarter. Capital Guardian Trust Co. now owns 34,700 shares of the oil and gas producer’s stock valued at $1,014,000 after buying an additional 29,126 shares during the last quarter. Guardian Capital Advisors LP lifted its stake in Suncor Energy by 1.2% in the second quarter. Guardian Capital Advisors LP now owns 238,149 shares of the oil and gas producer’s stock valued at $8,881,000 after buying an additional 2,821 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Suncor Energy in the second quarter valued at $238,000. Finally, Stifel Financial Corp lifted its stake in Suncor Energy by 15.9% in the second quarter. Stifel Financial Corp now owns 35,229 shares of the oil and gas producer’s stock valued at $1,034,000 after buying an additional 4,836 shares during the last quarter. Institutional investors and hedge funds own 64.05% of the company’s stock.
Shares of Suncor Energy Inc. (NYSE:SU) traded down 1.4402% during trading on Monday, hitting $34.5255. The stock had a trading volume of 885,083 shares. The stock’s 50 day moving average is $32.34 and its 200 day moving average is $31.04. The stock has a market capitalization of $57.29 billion, a price-to-earnings ratio of 25.9590 and a beta of 0.83. Suncor Energy Inc. has a 52 week low of $27.30 and a 52 week high of $35.16.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th were paid a $0.2552 dividend. The ex-dividend date was Thursday, August 31st. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.91%. Suncor Energy ‘s dividend payout ratio (DPR) is 84.43%.
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Several brokerages have recently issued reports on SU. Zacks Investment Research raised shares of Suncor Energy from a “sell” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, July 4th. Citigroup Inc. reaffirmed a “buy” rating on shares of Suncor Energy in a report on Wednesday, August 2nd. BidaskClub raised shares of Suncor Energy from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. National Bank Financial began coverage on shares of Suncor Energy in a research report on Tuesday, June 27th. They issued an “outperform” rating on the stock. Finally, Barclays PLC reiterated an “overweight” rating and issued a $52.00 price objective (up from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Suncor Energy has a consensus rating of “Buy” and an average price target of $42.86.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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