Manhattan West Asset Management LLC Sells 18,472 Shares of Suncor Energy Inc. (NYSE:SU)

Manhattan West Asset Management LLC lessened its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 33.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,477 shares of the oil and gas producer's stock after selling 18,472 shares during the period. Manhattan West Asset Management LLC's holdings in Suncor Energy were worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SU. Quantinno Capital Management LP grew its position in shares of Suncor Energy by 47.0% in the 3rd quarter. Quantinno Capital Management LP now owns 37,193 shares of the oil and gas producer's stock valued at $1,373,000 after buying an additional 11,887 shares during the last quarter. Stifel Financial Corp lifted its stake in Suncor Energy by 0.9% in the third quarter. Stifel Financial Corp now owns 95,243 shares of the oil and gas producer's stock valued at $3,516,000 after buying an additional 894 shares during the period. M&T Bank Corp boosted its holdings in shares of Suncor Energy by 6.2% during the 3rd quarter. M&T Bank Corp now owns 14,496 shares of the oil and gas producer's stock worth $535,000 after buying an additional 842 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Suncor Energy by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer's stock valued at $220,955,000 after acquiring an additional 413,797 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in Suncor Energy by 5.0% in the third quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer's stock valued at $276,000 after purchasing an additional 354 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded up $1.02 during trading on Thursday, hitting $34.83. 1,806,745 shares of the stock traded hands, compared to its average volume of 4,466,844. The stock has a market cap of $43.08 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 2.94 and a beta of 0.79. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.95. The firm's fifty day moving average is $36.89 and its 200-day moving average is $37.90.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share 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%. Research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were given a $0.399 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.58%. Suncor Energy's payout ratio is currently 45.51%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SU shares. StockNews.com downgraded Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Bank of America started coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a "neutral" rating on the stock. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 10th. Finally, Scotiabank raised Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.20.

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.