Empowered Funds LLC Reduces Position in Suncor Energy Inc. (NYSE:SU)

Empowered Funds LLC cut its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 26.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,626 shares of the oil and gas producer's stock after selling 26,122 shares during the period. Empowered Funds LLC's holdings in Suncor Energy were worth $2,644,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SU. Trust Co. of Vermont purchased a new stake in shares of Suncor Energy during the 2nd quarter valued at about $26,000. Eastern Bank purchased a new stake in Suncor Energy in the third quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in Suncor Energy in the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. grew its position in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 328 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in Suncor Energy during the 2nd quarter valued at $29,000. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets raised shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Tuesday. TD Securities upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th. Finally, Desjardins raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average target price of $56.40.

Suncor Energy Trading Down 0.8 %

NYSE SU traded down $0.32 during trading hours on Wednesday, hitting $40.66. 1,087,035 shares of the company were exchanged, compared to its average volume of 4,252,764. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $38.56 and a 200 day moving average price of $38.81. The stock has a market cap of $51.30 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.02%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is currently 35.29%.

About Suncor Energy

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.