Capital International Investors Reduces Stock Position in Suncor Energy Inc. (NYSE:SU)

Capital International Investors lowered its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,779,145 shares of the oil and gas producer’s stock after selling 2,266,813 shares during the quarter. Capital International Investors owned 2.34% of Suncor Energy worth $1,172,662,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Beutel Goodman & Co Ltd. raised its stake in Suncor Energy by 205.5% in the third quarter. Beutel Goodman & Co Ltd. now owns 13,042,524 shares of the oil and gas producer’s stock worth $411,456,000 after buying an additional 8,773,910 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co purchased a new stake in Suncor Energy in the 3rd quarter valued at about $16,642,000. Colony Group LLC boosted its position in Suncor Energy by 2.0% in the 3rd quarter. Colony Group LLC now owns 579,661 shares of the oil and gas producer’s stock valued at $18,306,000 after buying an additional 11,246 shares during the period. Stifel Financial Corp boosted its position in Suncor Energy by 5.1% in the 3rd quarter. Stifel Financial Corp now owns 195,465 shares of the oil and gas producer’s stock valued at $6,171,000 after buying an additional 9,435 shares during the period. Finally, Global Retirement Partners LLC boosted its position in Suncor Energy by 9.3% in the 3rd quarter. Global Retirement Partners LLC now owns 4,060 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 344 shares during the period. Institutional investors own 66.56% of the company’s stock.

SU stock traded up $0.39 during midday trading on Thursday, reaching $13.84. 8,407,764 shares of the company’s stock traded hands, compared to its average volume of 10,247,142. The company has a 50-day moving average price of $24.04 and a two-hundred day moving average price of $29.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.58 and a current ratio of 0.94. Suncor Energy Inc. has a 52 week low of $9.60 and a 52 week high of $34.56. The firm has a market capitalization of $18.37 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 3.59 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.11). Suncor Energy had a return on equity of 9.86% and a net margin of 7.35%. The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $8.86 billion. As a group, analysts predict that Suncor Energy Inc. will post 0.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 10.12%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, March 3rd. Suncor Energy’s dividend payout ratio is presently 65.57%.

Several research firms have issued reports on SU. Zacks Investment Research raised shares of Suncor Energy from a “strong sell” rating to a “hold” rating and set a $10.00 price objective for the company in a research report on Thursday. Wells Fargo & Co cut their price target on Suncor Energy from $50.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, March 20th. JPMorgan Chase & Co. cut their target price on Suncor Energy from $43.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th. Stifel Firstegy upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, March 19th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $31.00 price target on shares of Suncor Energy in a report on Monday, March 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and a consensus price target of $39.44.

Suncor Energy Company 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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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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