Hillsdale Investment Management Inc. Sells 119,772 Shares of Suncor Energy Inc. $SU

Hillsdale Investment Management Inc. cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 706,845 shares of the oil and gas producer’s stock after selling 119,772 shares during the period. Suncor Energy comprises approximately 1.3% of Hillsdale Investment Management Inc.’s holdings, making the stock its 15th largest position. Hillsdale Investment Management Inc.’s holdings in Suncor Energy were worth $46,741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Capital Group California Inc. bought a new stake in shares of Suncor Energy in the first quarter worth $536,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Suncor Energy by 10.9% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,743 shares of the oil and gas producer’s stock valued at $578,000 after acquiring an additional 857 shares during the last quarter. Candriam S.C.A. lifted its holdings in Suncor Energy by 8.1% in the first quarter. Candriam S.C.A. now owns 14,627 shares of the oil and gas producer’s stock valued at $964,000 after acquiring an additional 1,099 shares during the period. First Horizon Corp bought a new position in Suncor Energy in the first quarter valued at about $60,000. Finally, Kestra Advisory Services LLC boosted its position in Suncor Energy by 2.4% in the first quarter. Kestra Advisory Services LLC now owns 50,445 shares of the oil and gas producer’s stock worth $3,335,000 after purchasing an additional 1,178 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SU. Royal Bank Of Canada boosted their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research report on Friday, June 5th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 26th. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $71.67.

Suncor Energy Stock Performance

NYSE:SU opened at $61.22 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The stock has a 50-day simple moving average of $61.45 and a two-hundred day simple moving average of $58.28. The firm has a market capitalization of $72.28 billion, a PE ratio of 16.07 and a beta of 0.30. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data 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 return on equity of 13.96% and a net margin of 12.29%.The company had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the business earned $1.31 EPS. Analysts forecast that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.67%.

Suncor Energy 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.