Horizon Kinetics Asset Management LLC Has $2.88 Million Stake in Suncor Energy Inc. (NYSE:SU)

Horizon Kinetics Asset Management LLC boosted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 33.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,044 shares of the oil and gas producer's stock after acquiring an additional 19,700 shares during the quarter. Horizon Kinetics Asset Management LLC's holdings in Suncor Energy were worth $2,881,000 at the end of the most recent quarter.

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

Suncor Energy Trading Down 2.1 %

Shares of NYSE SU traded down $0.86 during midday trading on Monday, hitting $40.67. The stock had a trading volume of 6,298,361 shares, compared to its average volume of 4,274,821. The firm has a market cap of $51.17 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 2.74 and a beta of 1.12. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. 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 company's 50-day simple moving average is $38.86 and its 200 day simple moving average is $38.86.

Suncor Energy Increases Dividend

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

Analysts Set New Price Targets

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

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.