Cardinal Capital Management Inc. Lowers Stock Position in Suncor Energy Inc. (NYSE:SU)

Cardinal Capital Management Inc. trimmed its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,654,107 shares of the oil and gas producer's stock after selling 56,919 shares during the quarter. Suncor Energy accounts for 4.4% of Cardinal Capital Management Inc.'s portfolio, making the stock its 4th largest position. Cardinal Capital Management Inc. owned about 0.29% of Suncor Energy worth $130,139,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Sanctuary Advisors LLC lifted its position in Suncor Energy by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer's stock worth $3,035,000 after buying an additional 20,081 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Suncor Energy by 1,345.8% in the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer's stock worth $17,309,000 after acquiring an additional 436,016 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Suncor Energy during the third quarter worth $1,376,000. Assenagon Asset Management S.A. raised its holdings in shares of Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer's stock worth $123,774,000 after acquiring an additional 3,225,543 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in Suncor Energy during the third quarter valued at $1,151,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SU has been the subject of a number of recent research reports. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Morgan Stanley downgraded shares of Suncor Energy from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 16th. Finally, Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $58.00.

Suncor Energy Stock Performance

Shares of NYSE SU traded up $0.14 during trading hours on Thursday, hitting $39.37. 2,818,903 shares of the stock were exchanged, compared to its average volume of 4,456,684. Suncor Energy Inc. has a one year low of $31.25 and a one year high of $41.94. The company's 50 day moving average is $38.10 and its 200 day moving average is $38.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a market capitalization of $49.00 billion, a P/E ratio of 8.58, a P/E/G ratio of 3.42 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.15%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, December 3rd. Suncor Energy's dividend payout ratio is 35.08%.

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.