Verition Fund Management LLC trimmed its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 89.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,186 shares of the oil and gas producer's stock after selling 212,939 shares during the quarter. Verition Fund Management LLC's holdings in Suncor Energy were worth $930,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Suncor Energy by 5.1% in the second 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 acquiring an additional 1,209,073 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Suncor Energy by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer's stock worth $878,131,000 after purchasing an additional 366,432 shares during the last quarter. Toronto Dominion Bank boosted its position in Suncor Energy by 3.4% during the 2nd quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer's stock valued at $693,906,000 after purchasing an additional 605,833 shares during the period. CIBC Asset Management Inc boosted its position in Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer's stock valued at $516,728,000 after purchasing an additional 180,533 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased 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 buying an additional 1,829,936 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.
Suncor Energy Price Performance
Shares of SU stock traded down $0.19 during midday trading on Monday, reaching $38.19. 3,358,682 shares of the company were exchanged, compared to its average volume of 4,318,662. The company's 50 day moving average price is $39.29 and its two-hundred day moving average price is $38.79. The company has a market cap of $48.05 billion, a P/E ratio of 8.32, a PEG ratio of 2.54 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 company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.
Suncor Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Tuesday, December 3rd. Suncor Energy's dividend payout ratio (DPR) is presently 36.82%.
Wall Street Analysts Forecast Growth
SU has been the subject of several analyst reports. 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.40.
Read Our Latest Research Report on SU
Suncor Energy Profile
(
Free Report)
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.
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