Suncor Energy Inc. $SU Shares Sold by SCP Investment LP

SCP Investment LP reduced its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 28.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,600 shares of the oil and gas producer’s stock after selling 13,200 shares during the period. Suncor Energy makes up 1.2% of SCP Investment LP’s holdings, making the stock its 19th biggest position. SCP Investment LP’s holdings in Suncor Energy were worth $1,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SU. IFP Advisors Inc grew its stake in Suncor Energy by 22.6% during the 4th quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 193 shares in the last quarter. Bryn Mawr Trust Advisors LLC lifted its stake in Suncor Energy by 3.5% in the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 196 shares in the last quarter. Chesapeake Capital Corp IL boosted its holdings in shares of Suncor Energy by 0.9% during the 4th quarter. Chesapeake Capital Corp IL now owns 22,741 shares of the oil and gas producer’s stock worth $1,009,000 after purchasing an additional 203 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Finally, Accent Capital Management LLC grew its position in shares of Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 2.4%

Shares of NYSE SU opened at $65.31 on Wednesday. The company has a market capitalization of $77.11 billion, a P/E ratio of 17.14 and a beta of 0.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The company has a 50 day simple moving average of $65.26 and a 200-day simple moving average of $55.26. Suncor Energy Inc. has a 1 year low of $35.93 and a 1 year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the company posted $1.31 earnings per share. On average, equities research analysts predict that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. Suncor Energy’s dividend payout ratio (DPR) is presently 46.19%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. ATB Cormark Capital Markets raised 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. The Goldman Sachs Group raised their target price on Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Buy” and a consensus 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.