Korea Investment CORP Has $39.34 Million Position in Suncor Energy Inc. (NYSE:SU)

Korea Investment CORP cut its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 18.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,102,666 shares of the oil and gas producer's stock after selling 252,140 shares during the period. Korea Investment CORP owned approximately 0.09% of Suncor Energy worth $39,339,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. HHM Wealth Advisors LLC grew its position in shares of Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock worth $30,000 after purchasing an additional 325 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $35,000. Lee Danner & Bass Inc. acquired a new stake in Suncor Energy during the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC bought a new position in Suncor Energy during the 4th quarter worth $39,000. Finally, Stonebridge Financial Group LLC acquired a new position in Suncor Energy in the 4th quarter valued at $45,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on SU shares. Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Tudor Pickering raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Morgan Stanley cut shares of Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 16th. Finally, Cibc World Mkts upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.20.

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Suncor Energy Price Performance

Shares of NYSE SU traded up $0.31 during mid-day trading on Tuesday, hitting $39.03. 2,221,802 shares of the stock traded hands, compared to its average volume of 4,389,344. The company has a market cap of $48.28 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a twelve month low of $33.81 and a twelve month high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $38.11 and a two-hundred day simple moving average of $38.22.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy's payout ratio 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.