Maryland State Retirement & Pension System Trims Stock Position in Suncor Energy Inc. (NYSE:SU)

Maryland State Retirement & Pension System lowered its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,590 shares of the oil and gas producer’s stock after selling 30,293 shares during the period. Maryland State Retirement & Pension System’s holdings in Suncor Energy were worth $5,726,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Raymond James & Associates grew its stake in Suncor Energy by 16.1% in the 3rd quarter. Raymond James & Associates now owns 739,652 shares of the oil and gas producer’s stock worth $25,429,000 after buying an additional 102,412 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Suncor Energy during the 3rd quarter valued at $715,000. Verdence Capital Advisors LLC raised its holdings in Suncor Energy by 3.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 28,181 shares of the oil and gas producer’s stock valued at $969,000 after buying an additional 975 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Suncor Energy by 49.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 889,841 shares of the oil and gas producer’s stock worth $30,743,000 after purchasing an additional 293,245 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Suncor Energy by 60.8% during the third quarter. Park Avenue Securities LLC now owns 45,390 shares of the oil and gas producer’s stock valued at $1,560,000 after buying an additional 17,161 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Morgan Stanley raised their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average target price of $52.00.

Suncor Energy Stock Up 1.7 %

Shares of SU stock traded up $0.63 on Monday, hitting $38.88. The stock had a trading volume of 3,859,817 shares, compared to its average volume of 4,228,028. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $37.05 and a 200 day moving average price of $34.08. The company has a market cap of $50.04 billion, a PE ratio of 8.27, a P/E/G ratio of 3.38 and a beta of 1.11. Suncor Energy Inc. has a one year low of $27.59 and a one year high of $39.73.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. The business had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Research analysts anticipate that Suncor Energy Inc. will post 3.77 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were given a dividend of $0.406 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Friday, March 1st. Suncor Energy’s dividend payout ratio (DPR) is presently 34.26%.

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.