Bessemer Group Inc. Sells 19,785 Shares of Suncor Energy Inc. $SU

Bessemer Group Inc. lowered its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,040 shares of the oil and gas producer’s stock after selling 19,785 shares during the quarter. Bessemer Group Inc.’s holdings in Suncor Energy were worth $3,095,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Suncor Energy by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock worth $2,046,442,000 after purchasing an additional 1,632,247 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Suncor Energy by 38.5% in the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock valued at $1,264,043,000 after buying an additional 9,378,552 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Suncor Energy by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 20,911,602 shares of the oil and gas producer’s stock worth $779,788,000 after buying an additional 641,354 shares during the last quarter. Principal Financial Group Inc. raised its position in Suncor Energy by 0.6% during the third quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock worth $789,213,000 after acquiring an additional 106,765 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock valued at $395,649,000 after acquiring an additional 2,406,000 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SU has been the topic of several recent analyst reports. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wells Fargo & Company started coverage on Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating on the stock. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada raised their price target on Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

Suncor Energy Stock Up 1.3%

SU stock opened at $53.82 on Friday. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $55.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.85. The stock has a market capitalization of $64.24 billion, a price-to-earnings ratio of 15.51 and a beta of 0.46. The business’s fifty day moving average price is $46.89 and its two-hundred day moving average price is $43.05.

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

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s payout ratio is presently 49.57%.

Suncor Energy Profile

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.