Prospector Partners LLC Sells 21,867 Shares of Suncor Energy Inc. $SU

Prospector Partners LLC decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,246 shares of the oil and gas producer’s stock after selling 21,867 shares during the period. Prospector Partners LLC’s holdings in Suncor Energy were worth $6,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. lifted its position in Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 275 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 465 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 388 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Suncor Energy during the second quarter valued at approximately $31,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Suncor Energy during the second quarter worth $37,000. 67.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SU has been the topic of several recent analyst reports. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. The Goldman Sachs Group boosted their price target on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada lifted their target price on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Suncor Energy Price Performance

SU opened at $55.85 on Thursday. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $56.46. The firm has a 50-day moving average of $48.66 and a 200 day moving average of $43.94. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. The firm has a market cap of $66.45 billion, a P/E ratio of 16.09 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.79 billion. During the same period in the previous year, the company earned $1.25 earnings per share. On average, research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is 49.57%.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.