Suncor Energy Inc. $SU Stock Sold by Royal Fund Management LLC

Royal Fund Management LLC decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,829 shares of the oil and gas producer’s stock after selling 12,361 shares during the period. Royal Fund Management LLC’s holdings in Suncor Energy were worth $4,604,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its position in Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 398 shares during the last quarter. Continuum Advisory LLC bought a new stake in shares of Suncor Energy in the second quarter valued at $27,000. Sawyer & Company Inc bought a new stake in shares of Suncor Energy in the third quarter valued at $44,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Suncor Energy in the first quarter valued at $53,000. Finally, Eastern Bank lifted its position in shares of Suncor Energy by 51.7% during the 2nd quarter. Eastern Bank now owns 1,024 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SU has been the subject of several research reports. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research note on Wednesday, August 19th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and an average price target of $79.62.

Suncor Energy Stock Down 2.0%

Suncor Energy stock opened at $77.40 on Friday. Suncor Energy Inc. has a 1-year low of $38.72 and a 1-year high of $80.25. The firm has a market capitalization of $90.53 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.27 and a beta of 0.36. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $69.73 and a 200 day simple moving average of $65.13.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. The business had revenue of $13.41 billion for the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, analysts predict that Suncor Energy Inc. will post 8.76 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a C$0.60 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.1%. Suncor Energy’s payout ratio is 31.86%.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.