DORCHESTER WEALTH MANAGEMENT Co lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 381,141 shares of the company’s stock after selling 4,506 shares during the period. Suncor Energy accounts for about 3.9% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 4th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Suncor Energy were worth $10,583,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. BlackRock Japan Co. Ltd acquired a new stake in Suncor Energy during the second quarter valued at approximately $108,000. MSI Financial Services Inc increased its stake in Suncor Energy by 3.2% in the third quarter. MSI Financial Services Inc now owns 4,504 shares of the company’s stock valued at $125,000 after buying an additional 139 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Suncor Energy by 9.8% in the second quarter. Glenmede Trust Co. NA now owns 4,898 shares of the company’s stock valued at $135,000 after buying an additional 437 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Suncor Energy by 5.8% in the second quarter. Checchi Capital Advisers LLC now owns 6,801 shares of the company’s stock valued at $189,000 after buying an additional 372 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Suncor Energy by 213.9% in the first quarter. Bessemer Group Inc. now owns 7,299 shares of the company’s stock valued at $203,000 after buying an additional 4,974 shares during the last quarter. Hedge funds and other institutional investors own 64.08% of the company’s stock.
Suncor Energy Inc. (NYSE:SU) traded up 0.67% during mid-day trading on Monday, reaching $28.62. The company’s stock had a trading volume of 2,496,515 shares. The company’s market cap is $47.64 billion. Suncor Energy Inc. has a 12-month low of $18.71 and a 12-month high of $30.70. The firm’s 50 day moving average is $27.20 and its 200-day moving average is $27.41.
Suncor Energy (NYSE:SU) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.15. Suncor Energy had a negative net margin of 11.29% and a negative return on equity of 1.59%. During the same period last year, the business earned $0.63 earnings per share. Equities analysts anticipate that Suncor Energy Inc. will post ($0.35) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Tuesday, September 6th were issued a $0.2194 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, September 1st. Suncor Energy’s dividend payout ratio is presently -60.54%.
Several research firms recently commented on SU. Barclays PLC reiterated an “overweight” rating and issued a $50.00 price objective (up from $48.00) on shares of Suncor Energy in a report on Monday, October 10th. RBC Capital Markets reissued an “outperform” rating and issued a $42.00 target price on shares of Suncor Energy in a research report on Sunday, October 2nd. Nomura reissued a “buy” rating on shares of Suncor Energy in a research report on Monday, September 26th. Bank of America Corp. began coverage on Suncor Energy in a research report on Friday, August 19th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Zacks Investment Research cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $39.16.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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