Portland Global Advisors LLC decreased its stake in Suncor Energy Inc. (NYSE:SU) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 30,728 shares of the company’s stock after selling 869 shares during the period. Portland Global Advisors LLC’s holdings in Suncor Energy were worth $852,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SU. Ropes Wealth Advisors LLC raised its position in shares of Suncor Energy by 15.6% in the first quarter. Ropes Wealth Advisors LLC now owns 6,088 shares of the company’s stock valued at $169,000 after buying an additional 820 shares during the period. IFP Advisors Inc boosted its stake in shares of Suncor Energy by 29.2% in the first quarter. IFP Advisors Inc now owns 6,470 shares of the company’s stock valued at $180,000 after buying an additional 1,462 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of 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 in the last quarter. Bessemer Group Inc. boosted its stake in shares of 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 in the last quarter. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Suncor Energy during the first quarter valued at about $221,000. 62.91% of the stock is owned by institutional investors.
Shares of Suncor Energy Inc. (NYSE:SU) traded up 1.87% during trading on Thursday, hitting $26.74. 5,807,717 shares of the stock were exchanged. The stock’s 50 day moving average price is $27.32 and its 200 day moving average price is $27.33. The stock’s market cap is $44.51 billion. Suncor Energy Inc. has a one year low of $18.71 and a one year high of $30.70.
Suncor Energy (NYSE:SU) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.21) by $0.15. Suncor Energy had a negative return on equity of 1.59% and a negative net margin of 11.29%. During the same period last year, the business earned $0.63 EPS. Equities research analysts predict that Suncor Energy Inc. will post ($0.33) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Tuesday, September 6th will be given a $0.2194 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, September 1st. Suncor Energy’s payout ratio is -60.54%.
Several analysts have recently issued reports on the stock. Bank of America Corp. assumed coverage on shares of Suncor Energy in a research report on Friday, August 19th. They set a “buy” rating and a $33.00 price target on the stock. Vetr cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating and set a $31.93 price target on the stock. in a research report on Tuesday, June 7th. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, July 13th. Simmons reduced their price target on shares of Suncor Energy from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. Finally, Raymond James Financial Inc. reissued an “outperform” rating and set a $42.00 price target (down previously from $43.00) on shares of Suncor Energy in a research report on Thursday, June 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $38.19.
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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