Van ECK Associates Corp reduced its stake in shares of Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 710,539 shares of the oil and gas producer’s stock after selling 72,025 shares during the period. Van ECK Associates Corp owned 0.06% of Suncor Energy worth $27,088,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Johnson Financial Group Inc. acquired a new position in shares of Suncor Energy during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. bought a new position in shares of Suncor Energy in the fourth quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new stake in shares of Suncor Energy in the second quarter worth $26,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy during the 2nd quarter worth $27,000. Finally, Ridgewood Investments LLC acquired a new position in Suncor Energy in the 2nd quarter valued at $29,000. 67.37% of the stock is owned by institutional investors and hedge funds.
Suncor Energy Stock Performance
SU traded down $0.43 during trading on Friday, reaching $40.54. 2,311,679 shares of the company’s stock were exchanged, compared to its average volume of 4,152,580. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a market capitalization of $51.50 billion, a P/E ratio of 9.03, a PEG ratio of 2.73 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $39.08 and a 200 day moving average price of $37.95.
Suncor Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 3.90%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is 35.63%.
Analyst Ratings Changes
SU has been the subject of a number of research analyst reports. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank dropped their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group increased their price objective on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $54.86.
View Our Latest Stock Report on Suncor Energy
About Suncor Energy
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.
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