Cardinal Capital Management Inc. Has $122.94 Million Position in Suncor Energy Inc. (NYSE:SU)

Cardinal Capital Management Inc. cut its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,825,142 shares of the oil and gas producer's stock after selling 97,695 shares during the period. Suncor Energy makes up approximately 5.8% of Cardinal Capital Management Inc.'s holdings, making the stock its largest holding. Cardinal Capital Management Inc. owned about 0.30% of Suncor Energy worth $122,935,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. purchased a new position in shares of Suncor Energy during the 4th quarter worth approximately $25,000. Optiver Holding B.V. purchased a new position in shares of Suncor Energy during the 3rd quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 313 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Suncor Energy during the 4th quarter worth approximately $38,000. Finally, Headinvest LLC purchased a new position in shares of Suncor Energy during the 3rd quarter worth approximately $40,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 0.9 %

Shares of SU traded down $0.34 during mid-day trading on Friday, reaching $36.58. The company had a trading volume of 6,994,128 shares, compared to its average volume of 5,422,659. The stock has a market cap of $47.04 billion, a price-to-earnings ratio of 8.15, a price-to-earnings-growth ratio of 3.62 and a beta of 1.11. The firm has a fifty day simple moving average of $38.94 and a 200-day simple moving average of $35.35. Suncor Energy Inc. has a fifty-two week low of $28.07 and a fifty-two week high of $41.50. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.37 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.395 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.32%. Suncor Energy's payout ratio is 35.19%.

Analyst Upgrades and Downgrades

Several analysts have commented on SU shares. Morgan Stanley lifted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. The Goldman Sachs Group lifted their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, May 23rd. StockNews.com cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Wednesday. Raymond James raised shares of Suncor Energy to a "hold" rating in a research note on Tuesday, May 28th. Finally, TD Securities lifted their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a "hold" rating in a report on Wednesday, May 22nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.67.

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.