Rempart Asset Management Inc. Has $21.17 Million Stock Holdings in Suncor Energy Inc. $SU

Rempart Asset Management Inc. decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 476,655 shares of the oil and gas producer’s stock after selling 7,870 shares during the quarter. Suncor Energy accounts for approximately 4.0% of Rempart Asset Management Inc.’s holdings, making the stock its 12th biggest holding. Rempart Asset Management Inc.’s holdings in Suncor Energy were worth $21,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SU. Richardson Financial Services Inc. lifted its holdings 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 valued at $29,000 after purchasing an additional 275 shares during the last quarter. Headlands Technologies LLC bought a new stake in Suncor Energy during the second quarter worth about $31,000. Hanson & Doremus Investment Management grew its stake in 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 buying an additional 465 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 388 shares in the last quarter. Finally, Corsicana & Co. acquired a new stake in shares of Suncor Energy during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

SU opened at $64.72 on Thursday. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $65.33. 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 company’s 50 day simple moving average is $55.90 and its 200-day simple moving average is $47.31. The stock has a market capitalization of $77.01 billion, a P/E ratio of 18.65 and a beta of 0.43.

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

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 50.72%.

Analysts Set New Price Targets

Several research analysts have recently commented on SU shares. The Goldman Sachs Group boosted their target price on Suncor Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada boosted their price objective on Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.67.

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.