Suncor Energy Inc. (SU) Position Reduced by Centre Asset Management LLC
Centre Asset Management LLC cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 185,110 shares of the oil and gas producer’s stock after selling 2,100 shares during the period. Centre Asset Management LLC’s holdings in Suncor Energy were worth $6,484,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SU. Stifel Financial Corp lifted its holdings in Suncor Energy by 11.7% in the first quarter. Stifel Financial Corp now owns 30,393 shares of the oil and gas producer’s stock valued at $934,000 after acquiring an additional 3,195 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Suncor Energy by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,659,226 shares of the oil and gas producer’s stock valued at $81,771,000 after acquiring an additional 93,044 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Suncor Energy by 694.5% in the first quarter. Renaissance Technologies LLC now owns 258,540 shares of the oil and gas producer’s stock valued at $7,945,000 after acquiring an additional 226,000 shares during the last quarter. United Capital Financial Advisers LLC lifted its holdings in Suncor Energy by 16.0% in the first quarter. United Capital Financial Advisers LLC now owns 11,607 shares of the oil and gas producer’s stock valued at $357,000 after acquiring an additional 1,605 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Suncor Energy in the first quarter valued at approximately $853,000. Hedge funds and other institutional investors own 64.00% of the company’s stock.
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Suncor Energy Inc. (SU) traded up 0.18% during mid-day trading on Wednesday, hitting $33.80. The stock had a trading volume of 1,071,454 shares. Suncor Energy Inc. has a one year low of $27.96 and a one year high of $35.18. The company has a 50 day moving average price of $33.67 and a 200-day moving average price of $31.56. The company has a market cap of $56.09 billion, a price-to-earnings ratio of 25.41 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 issued a dividend of $0.2552 per share. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.02 annualized dividend and a dividend yield of 3.03%. Suncor Energy ‘s payout ratio is presently 84.43%.
SU has been the topic of a number of recent analyst reports. National Bank Financial initiated coverage on Suncor Energy in a report on Tuesday, June 27th. They issued an “outperform” rating on the stock. Piper Jaffray Companies cut their target price on Suncor Energy from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, July 3rd. Zacks Investment Research raised Suncor Energy from a “sell” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Tuesday, July 4th. Barclays PLC reissued an “overweight” rating and issued a $52.00 target price (up previously from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. Finally, BidaskClub raised Suncor Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $43.94.
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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