Swiss National Bank Sells 227,700 Shares of Suncor Energy Inc. $SU

Swiss National Bank reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,531,892 shares of the oil and gas producer’s stock after selling 227,700 shares during the period. Swiss National Bank’s holdings in Suncor Energy were worth $147,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Suncor Energy by 172.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 1,254 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Suncor Energy in the 2nd quarter valued at about $37,000. Savant Capital LLC lifted its holdings in shares of Suncor Energy by 47.4% during the 2nd quarter. Savant Capital LLC now owns 14,245 shares of the oil and gas producer’s stock worth $533,000 after acquiring an additional 4,580 shares during the period. Finally, Bryn Mawr Trust Advisors LLC acquired a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Up 1.1%

Shares of SU opened at $57.48 on Tuesday. The stock’s 50-day moving average price is $52.16 and its two-hundred day moving average price is $45.60. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $58.63. The company has a market capitalization of $68.39 billion, a PE ratio of 16.56 and a beta of 0.42. 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 (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating 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 company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 4.2%. Suncor Energy’s dividend payout ratio is presently 50.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SU. Royal Bank Of Canada lifted their price target on Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. The Goldman Sachs Group raised their price objective on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Suncor Energy Company Profile

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.