Ritholtz Wealth Management Decreases Stake in Suncor Energy Inc. (NYSE:SU)

Ritholtz Wealth Management cut its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,313 shares of the oil and gas producer's stock after selling 15,153 shares during the period. Ritholtz Wealth Management's holdings in Suncor Energy were worth $3,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SU. Assenagon Asset Management S.A. raised its stake in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer's stock worth $123,774,000 after purchasing an additional 3,225,543 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Suncor Energy by 23.3% in the 3rd 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 buying an additional 1,829,936 shares during the period. Principal Financial Group Inc. raised its position in Suncor Energy by 23.0% during the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer's stock worth $256,429,000 after buying an additional 1,296,142 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in 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 worth $956,850,000 after buying an additional 1,209,073 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Suncor Energy in the 2nd quarter valued at $42,268,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded down $0.05 on Friday, reaching $39.02. The company's stock had a trading volume of 4,446,089 shares, compared to its average volume of 4,721,763. Suncor Energy Inc. has a 52-week low of $31.03 and a 52-week high of $41.94. The company has a market capitalization of $48.57 billion, a P/E ratio of 8.50, a PEG ratio of 3.38 and a beta of 1.12. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $38.07 and a 200-day moving average price of $38.52.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, December 3rd. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio is 35.08%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SU. Desjardins raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. 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 issued a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Suncor Energy currently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

About Suncor Energy

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.