Pekin Hardy Strauss Inc. Sells 39,669 Shares of Suncor Energy Inc. $SU

Pekin Hardy Strauss Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 25.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 113,489 shares of the oil and gas producer’s stock after selling 39,669 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Suncor Energy were worth $4,745,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. grew its position in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 275 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy during the second quarter valued at about $31,000. Hanson & Doremus Investment Management grew its holdings in shares of Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 465 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 388 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in Suncor Energy in the 2nd quarter valued at approximately $37,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Royal Bank Of Canada boosted their price objective 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. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Suncor Energy Stock Up 1.7%

Shares of NYSE:SU opened at $56.81 on Friday. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $57.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The business’s 50-day moving average is $48.91 and its 200-day moving average is $44.02. The company has a market capitalization of $67.60 billion, a price-to-earnings ratio of 16.37 and a beta of 0.46.

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

Suncor Energy Announces Dividend

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

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.