Easterly Investment Partners LLC Reduces Stake in Suncor Energy Inc. $SU

Easterly Investment Partners LLC reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 31.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,477 shares of the oil and gas producer’s stock after selling 49,401 shares during the quarter. Easterly Investment Partners LLC’s holdings in Suncor Energy were worth $4,812,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SU. AQR Capital Management LLC grew its holdings in Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 464 shares in the last quarter. AXA S.A. grew its holdings in Suncor Energy by 17.2% in the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after buying an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Suncor Energy by 6.4% in the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock valued at $2,514,000 after buying an additional 4,043 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $62.34 on Monday. Suncor Energy Inc. has a 52 week low of $35.29 and a 52 week high of $70.29. The business’s fifty day simple moving average is $65.25 and its 200-day simple moving average is $55.12. The firm has a market cap of $73.60 billion, a PE ratio of 16.36 and a beta of 0.27. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the company earned $1.31 EPS. Equities analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is 46.19%.

Analysts Set New Price Targets

Several brokerages have issued reports on SU. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday. Royal Bank Of Canada upped their target price on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Finally, The Goldman Sachs Group upped their price target on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Suncor Energy has a consensus rating of “Buy” and an average price target of $72.00.

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.