ARGA Investment Management LP Has $12.50 Million Stock Holdings in Suncor Energy Inc. (NYSE:SU)

ARGA Investment Management LP lessened its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 77.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 338,610 shares of the oil and gas producer's stock after selling 1,146,262 shares during the period. Suncor Energy accounts for 0.4% of ARGA Investment Management LP's holdings, making the stock its 29th biggest position. ARGA Investment Management LP's holdings in Suncor Energy were worth $12,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SU. Eastern Bank acquired a new position in shares of Suncor Energy in the third quarter valued at approximately $25,000. Trust Co. of Vermont bought a new stake in Suncor Energy in the 2nd quarter valued at $26,000. Summit Securities Group LLC acquired a new position in Suncor Energy in the 2nd quarter valued at $27,000. Richardson Financial Services Inc. increased its position in Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock worth $28,000 after buying an additional 328 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in shares of Suncor Energy during the second quarter worth $29,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of NYSE SU traded down $0.07 during trading hours on Friday, hitting $39.48. 1,821,328 shares of the stock were exchanged, compared to its average volume of 4,300,758. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94. The company has a market cap of $49.67 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company's fifty day simple moving average is $39.12 and its two-hundred day simple moving average is $38.86.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.14%. Suncor Energy's dividend payout ratio (DPR) is presently 35.29%.

Wall Street Analyst Weigh In

SU has been the topic of several research reports. Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. StockNews.com raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. BMO Capital Markets upgraded shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a research report on Wednesday, August 7th. Finally, TD Securities raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Suncor Energy currently has an average rating of "Moderate Buy" and an average price target of $56.40.

Suncor Energy Company 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.