Suncor Energy Inc. (SU) Holdings Lessened by Capital World Investors
Capital World Investors lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,945,644 shares of the oil and gas producer’s stock after selling 1,100,000 shares during the period. Capital World Investors owned about 1.68% of Suncor Energy worth $816,518,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Sei Investments Co. raised its position in Suncor Energy by 23.9% during the 1st quarter. Sei Investments Co. now owns 34,734 shares of the oil and gas producer’s stock valued at $1,069,000 after purchasing an additional 6,700 shares in the last quarter. Stifel Financial Corp raised its position in shares of Suncor Energy by 11.7% in the 1st quarter. Stifel Financial Corp now owns 30,393 shares of the oil and gas producer’s stock worth $934,000 after acquiring an additional 3,195 shares in the last quarter. AXA raised its position in shares of Suncor Energy by 43.0% in the 1st quarter. AXA now owns 98,689 shares of the oil and gas producer’s stock worth $3,034,000 after acquiring an additional 29,666 shares in the last quarter. BB&T Securities LLC raised its position in shares of Suncor Energy by 24.1% in the 1st quarter. BB&T Securities LLC now owns 15,234 shares of the oil and gas producer’s stock worth $468,000 after acquiring an additional 2,963 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Suncor Energy by 20.6% during the 1st quarter. Van ECK Associates Corp now owns 18,762 shares of the oil and gas producer’s stock worth $577,000 after purchasing an additional 3,206 shares during the last quarter. Institutional investors and hedge funds own 64.05% of the company’s stock.
Several brokerages have weighed in on SU. Citigroup Inc. restated a “buy” rating on shares of Suncor Energy in a research note on Wednesday, August 2nd. BidaskClub downgraded Suncor Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. AltaCorp Capital downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Suncor Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $52.00 price target (up from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $42.86.
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Suncor Energy Inc. (SU) traded up 0.75% on Tuesday, reaching $34.90. 874,659 shares of the company traded hands. The company has a 50-day moving average price of $32.82 and a 200-day moving average price of $31.31. Suncor Energy Inc. has a 12 month low of $27.30 and a 12 month high of $35.16. The company has a market capitalization of $57.91 billion, a P/E ratio of 26.24 and a beta of 0.83.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Tuesday, September 5th were given a $0.2552 dividend. This is a boost from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a yield of 2.95%. The ex-dividend date was Thursday, August 31st. Suncor Energy ‘s dividend payout ratio (DPR) is currently 84.43%.
Suncor Energy 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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