Suncor Energy Inc. (NYSE:SU) Shares Sold by FIL Ltd

FIL Ltd reduced its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 24.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 879,702 shares of the oil and gas producer's stock after selling 280,000 shares during the quarter. FIL Ltd owned about 0.07% of Suncor Energy worth $31,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SU. Vanguard Group Inc. raised its holdings in shares of Suncor Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer's stock valued at $1,892,526,000 after buying an additional 323,714 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Suncor Energy by 0.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer's stock valued at $865,885,000 after purchasing an additional 169,700 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Suncor Energy by 0.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer's stock worth $831,631,000 after purchasing an additional 209,447 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Suncor Energy by 4.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer's stock worth $361,227,000 after purchasing an additional 437,252 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer's stock valued at $346,298,000 after buying an additional 2,767,043 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SU shares. Tudor Pickering upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 10th. Scotiabank raised Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Bank of America initiated coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a "neutral" rating on the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Suncor Energy has an average rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Price Performance

Suncor Energy stock traded up $0.53 during mid-day trading on Wednesday, hitting $33.82. 963,929 shares of the company were exchanged, compared to its average volume of 4,970,976. 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 12-month low of $30.79 and a 12-month high of $41.94. The business's 50 day simple moving average is $36.99 and its two-hundred day simple moving average is $37.93. The company has a market capitalization of $41.84 billion, a P/E ratio of 9.80, a PEG ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (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%. Analysts forecast 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. Shareholders of record on Tuesday, March 4th were issued a $0.399 dividend. This represents a $1.60 annualized dividend and a yield of 4.72%. The ex-dividend date was Tuesday, March 4th. Suncor Energy's dividend payout ratio (DPR) is 45.51%.

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.