Invesco Ltd. Cuts Position in Suncor Energy Inc. (NYSE:SU)

Invesco Ltd. decreased its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,773,793 shares of the oil and gas producer's stock after selling 1,879,203 shares during the period. Invesco Ltd. owned about 2.23% of Suncor Energy worth $990,969,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SU. HHM Wealth Advisors LLC increased its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock valued at $30,000 after buying an additional 325 shares during the period. Crowley Wealth Management Inc. acquired a new position in Suncor Energy in the 4th quarter valued at approximately $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy during the fourth quarter valued at $36,000. Golden State Wealth Management LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth $39,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Suncor Energy in the fourth quarter worth $45,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Upgrades and Downgrades

SU has been the subject of several analyst reports. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Wednesday. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Morgan Stanley cut Suncor Energy from an "overweight" rating to an "equal weight" rating in a report on Monday, December 16th. Royal Bank of Canada restated an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Bank of America assumed coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a "neutral" rating on the stock. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Stock Up 3.9 %

SU traded up $1.27 during trading on Friday, hitting $33.48. 6,236,798 shares of the company's stock were exchanged, compared to its average volume of 4,495,517. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $37.20 and its two-hundred day moving average is $37.97. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The stock has a market cap of $41.42 billion, a P/E ratio of 9.70, a PEG ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results 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%. As a group, equities analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were given a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy's payout ratio is currently 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.