Sanders Capital LLC Buys 136,579 Shares of Suncor Energy Inc. (NYSE:SU)

Sanders Capital LLC increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,053,660 shares of the oil and gas producer’s stock after acquiring an additional 136,579 shares during the quarter. Suncor Energy comprises approximately 3.1% of Sanders Capital LLC’s holdings, making the stock its 10th largest holding. Sanders Capital LLC owned 4.60% of Suncor Energy worth $2,143,341,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Suncor Energy by 5.1% in the 2nd 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 period. Massachusetts Financial Services Co. MA raised its stake in shares of Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after purchasing an additional 366,432 shares in the last quarter. Toronto Dominion Bank lifted its position in Suncor Energy by 3.4% in the second quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock worth $693,906,000 after purchasing an additional 605,833 shares during the period. CIBC Asset Management Inc boosted its stake in Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after buying an additional 180,533 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Suncor Energy by 23.3% in 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 buying an additional 1,829,936 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Suncor Energy stock opened at $40.66 on Tuesday. The business’s fifty day moving average is $38.94 and its two-hundred day moving average is $38.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The firm has a market cap of $51.16 billion, a P/E ratio of 8.86, a P/E/G ratio of 2.74 and a beta of 1.12. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a yield of 4.02%. Suncor Energy’s dividend payout ratio is 35.29%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $56.40.

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.