Sanders Capital LLC Decreases Position in Suncor Energy Inc. (NYSE:SU)

Sanders Capital LLC trimmed its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 55.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,660,740 shares of the oil and gas producer's stock after selling 32,392,920 shares during the period. Suncor Energy accounts for about 1.3% of Sanders Capital LLC's portfolio, making the stock its 23rd biggest holding. Sanders Capital LLC owned approximately 2.06% of Suncor Energy worth $915,575,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SU. Assenagon Asset Management S.A. increased its holdings in shares of Suncor Energy by 1,324.8% during 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 buying an additional 3,225,543 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of 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 period. Jupiter Asset Management Ltd. boosted its position in Suncor Energy by 2,061.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer's stock valued at $86,990,000 after acquiring an additional 2,325,503 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Suncor Energy by 97.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer's stock worth $133,250,000 after acquiring an additional 1,842,791 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Suncor Energy by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer's stock valued at $278,537,000 after purchasing an additional 1,737,573 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of SU stock traded up $0.67 on Friday, hitting $34.48. 3,015,187 shares of the stock were exchanged, compared to its average volume of 4,476,006. The firm has a market capitalization of $42.66 billion, a PE ratio of 10.00, a P/E/G ratio of 2.94 and a beta of 0.79. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm's 50 day moving average is $36.79 and its two-hundred day moving average is $37.88. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.95.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy's payout ratio is 45.51%.

Analysts Set New Price Targets

Several analysts have recently commented on SU shares. Bank of America assumed coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating for the company. Royal Bank of Canada reissued 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. raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Cibc World Mkts upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Finally, Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.20.

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.