Greylin Investment Mangement Inc. reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 45.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,350 shares of the oil and gas producer’s stock after selling 5,205 shares during the quarter. Greylin Investment Mangement Inc.’s holdings in Suncor Energy were worth $201,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. First PREMIER Bank bought a new position in shares of Suncor Energy in the third quarter worth $69,000. Viking Fund Management LLC bought a new position in shares of Suncor Energy in the third quarter worth $4,421,000. Manning & Napier Group LLC grew its stake in shares of Suncor Energy by 3.7% in the third quarter. Manning & Napier Group LLC now owns 108,335 shares of the oil and gas producer’s stock worth $3,421,000 after purchasing an additional 3,824 shares in the last quarter. Hexavest Inc. grew its stake in shares of Suncor Energy by 35.6% in the third quarter. Hexavest Inc. now owns 2,104,351 shares of the oil and gas producer’s stock worth $66,421,000 after purchasing an additional 551,905 shares in the last quarter. Finally, Cerebellum GP LLC grew its stake in shares of Suncor Energy by 21.7% in the third quarter. Cerebellum GP LLC now owns 13,692 shares of the oil and gas producer’s stock worth $432,000 after purchasing an additional 2,437 shares in the last quarter. Hedge funds and other institutional investors own 64.07% of the company’s stock.
Several research firms have recently issued reports on SU. National Bank Financial cut Suncor Energy from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, October 1st. Citigroup decreased their price target on Suncor Energy from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. ValuEngine raised Suncor Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $48.23.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, July 24th. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.09). Suncor Energy had a net margin of 14.55% and a return on equity of 10.20%. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $8.15 billion. Analysts forecast that Suncor Energy Inc. will post 2.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.321 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.31%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, September 3rd. Suncor Energy’s dividend payout ratio is currently 63.00%.
Suncor Energy Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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