Zurcher Kantonalbank Zurich Cantonalbank Sells 311,048 Shares of Suncor Energy Inc. (NYSE:SU)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 35.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 578,793 shares of the oil and gas producer’s stock after selling 311,048 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Suncor Energy were worth $18,633,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SU. Cambridge Investment Research Advisors Inc. increased its stake in Suncor Energy by 13.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,045 shares of the oil and gas producer’s stock valued at $393,000 after acquiring an additional 1,382 shares during the period. HighTower Advisors LLC increased its stake in Suncor Energy by 8.9% during the first quarter. HighTower Advisors LLC now owns 31,145 shares of the oil and gas producer’s stock valued at $1,013,000 after acquiring an additional 2,544 shares during the period. BlackRock Inc. increased its stake in Suncor Energy by 41.9% during the first quarter. BlackRock Inc. now owns 927,375 shares of the oil and gas producer’s stock valued at $30,223,000 after acquiring an additional 273,853 shares during the period. Raymond James Trust N.A. increased its stake in Suncor Energy by 40.4% during the first quarter. Raymond James Trust N.A. now owns 12,556 shares of the oil and gas producer’s stock valued at $409,000 after acquiring an additional 3,610 shares during the period. Finally, Sei Investments Co. increased its stake in Suncor Energy by 20.5% during the first quarter. Sei Investments Co. now owns 11,827 shares of the oil and gas producer’s stock valued at $380,000 after acquiring an additional 2,015 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SU has been the topic of several research reports. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Morgan Stanley lifted their price objective on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Suncor Energy Stock Up 0.4 %

NYSE SU opened at $38.05 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $35.62 and its two-hundred day moving average is $33.64. The company has a market capitalization of $48.98 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 3.34 and a beta of 1.13. Suncor Energy Inc. has a 1-year low of $27.59 and a 1-year high of $39.32.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same period in the previous year, the business earned $1.33 EPS. Equities analysts forecast that Suncor Energy Inc. will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were issued a $0.406 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, March 1st. Suncor Energy’s payout ratio is presently 34.26%.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.