Suncor Energy Inc. (NYSE:SU) Stock Position Trimmed by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 24.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,959,444 shares of the oil and gas producer's stock after selling 2,953,965 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.72% of Suncor Energy worth $319,506,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Sanctuary Advisors LLC boosted its stake in Suncor Energy by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer's stock valued at $3,035,000 after acquiring an additional 20,081 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer's stock valued at $2,421,000 after purchasing an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC bought a new position in Suncor Energy in the fourth quarter valued at $300,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Suncor Energy in the 4th quarter valued at $236,000. Finally, Bank of New York Mellon Corp grew its position in Suncor Energy by 104.2% during the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock worth $110,017,000 after acquiring an additional 1,573,726 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on SU. Tudor Pickering upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Royal Bank of Canada reissued an "outperform" rating and issued a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Scotiabank raised Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of "Moderate Buy" and a consensus target price of $59.20.

Suncor Energy Stock Performance

Shares of SU stock traded up $0.31 during midday trading on Tuesday, hitting $39.03. The company had a trading volume of 2,221,802 shares, compared to its average volume of 4,391,725. The stock has a market cap of $48.28 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 2.94 and a beta of 1.11. The company's 50 day simple moving average is $38.12 and its 200 day simple moving average is $38.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a 52-week low of $33.81 and a 52-week high of $41.95.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were given a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.09%. Suncor Energy's dividend payout ratio (DPR) is 45.51%.

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.