Quadrature Capital Ltd Trims Position in Suncor Energy Inc. (NYSE:SU)

Quadrature Capital Ltd lowered its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 67.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,300 shares of the oil and gas producer's stock after selling 379,100 shares during the quarter. Quadrature Capital Ltd's holdings in Suncor Energy were worth $6,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its position in shares of Suncor Energy by 90.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer's stock worth $316,226,000 after buying an additional 3,951,287 shares in the last quarter. National Bank of Canada FI lifted its holdings in Suncor Energy by 60.7% during the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer's stock worth $328,876,000 after acquiring an additional 3,272,896 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Suncor Energy by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer's stock worth $357,827,000 after purchasing an additional 1,829,936 shares during the last quarter. Principal Financial Group Inc. grew its stake in Suncor Energy by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer's stock valued at $256,429,000 after purchasing an additional 1,296,142 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer's stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

NYSE SU traded down $0.77 during trading on Friday, hitting $38.38. 3,692,053 shares of the company's stock traded hands, compared to its average volume of 4,313,888. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The stock has a market capitalization of $48.29 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 2.57 and a beta of 1.11. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The business has a 50 day moving average of $39.23 and a 200-day moving average of $38.85.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid 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 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy's dividend payout ratio is presently 36.82%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Desjardins raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $56.40.

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.