Royal London Asset Management Ltd. Sells 771,518 Shares of Suncor Energy Inc. (NYSE:SU)

Royal London Asset Management Ltd. cut its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 26.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,101,613 shares of the oil and gas producer's stock after selling 771,518 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.17% of Suncor Energy worth $74,986,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Suncor Energy by 1,324.8% during the 4th 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 period. Principal Financial Group Inc. increased its holdings in Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer's stock worth $346,298,000 after buying an additional 2,767,043 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in Suncor Energy by 2,061.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer's stock worth $86,990,000 after acquiring an additional 2,325,503 shares during the period. Fisher Asset Management LLC boosted its stake in Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer's stock valued at $133,250,000 after acquiring an additional 1,842,791 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer's stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the period. 67.37% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

SU has been the topic of several research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Morgan Stanley lowered Suncor Energy from an "overweight" rating to an "equal weight" rating in a report on Monday, December 16th. Bank of America started coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Finally, StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Saturday. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Suncor Energy Price Performance

Suncor Energy stock traded up $0.96 during midday trading on Monday, hitting $38.41. 3,913,052 shares of the company's stock were exchanged, compared to its average volume of 4,214,533. The stock has a 50-day moving average price of $38.22 and a two-hundred day moving average price of $38.13. Suncor Energy Inc. has a 52-week low of $33.81 and a 52-week high of $41.95. The company has a market cap of $47.52 billion, a P/E ratio of 11.13, a PEG ratio of 2.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy's dividend payout ratio (DPR) is currently 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.