Lazard Asset Management LLC Has $73.17 Million Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Lazard Asset Management LLC cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,982,398 shares of the oil and gas producer’s stock after selling 36,122 shares during the period. Lazard Asset Management LLC owned approximately 0.15% of Suncor Energy worth $73,170,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Bank of Nova Scotia Trust Co. boosted its holdings in Suncor Energy by 3.2% in the first quarter. Bank of Nova Scotia Trust Co. now owns 544,885 shares of the oil and gas producer’s stock worth $20,112,000 after purchasing an additional 16,852 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Suncor Energy by 4.1% in the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after purchasing an additional 868,475 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Suncor Energy by 2.8% in the first quarter. Canada Pension Plan Investment Board now owns 9,003,591 shares of the oil and gas producer’s stock worth $332,599,000 after purchasing an additional 248,318 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after purchasing an additional 6,580,260 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Suncor Energy by 7.5% in the first quarter. Advisors Asset Management Inc. now owns 44,721 shares of the oil and gas producer’s stock worth $1,651,000 after purchasing an additional 3,105 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SU shares. The Goldman Sachs Group upped their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Wolfe Research started coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Scotiabank decreased their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, TD Securities upped their price objective on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $54.75.

Suncor Energy Price Performance

NYSE:SU traded up $0.02 during mid-day trading on Friday, hitting $38.50. The company’s stock had a trading volume of 1,543,707 shares, compared to its average volume of 3,156,516. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.50. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $49.34 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 3.50 and a beta of 1.12. The stock has a fifty day moving average of $38.46 and a 200-day moving average of $36.61.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.67 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s payout ratio is 35.41%.

Suncor Energy 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.