Impala Asset Management LLC decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 93.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the oil and gas producer’s stock after selling 661,234 shares during the period. Impala Asset Management LLC’s holdings in Suncor Energy were worth $1,538,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Dodge & Cox acquired a new stake in shares of Suncor Energy during the fourth quarter worth approximately $681,400,000. Norges Bank acquired a new stake in shares of Suncor Energy during the fourth quarter worth approximately $577,935,000. FMR LLC raised its stake in shares of Suncor Energy by 15.3% in the fourth quarter. FMR LLC now owns 101,699,114 shares of the oil and gas producer’s stock worth $3,325,208,000 after buying an additional 13,528,687 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Suncor Energy during the fourth quarter worth approximately $202,212,000. Finally, OppenheimerFunds Inc. raised its stake in shares of Suncor Energy by 39.1% in the first quarter. OppenheimerFunds Inc. now owns 15,323,679 shares of the oil and gas producer’s stock worth $471,203,000 after buying an additional 4,309,173 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.
Suncor Energy Inc. (NYSE:SU) traded down 0.74% during midday trading on Monday, reaching $29.51. 3,424,359 shares of the company’s stock traded hands. The stock has a market cap of $49.26 billion, a PE ratio of 42.71 and a beta of 0.82. The stock’s 50 day moving average price is $31.22 and its 200-day moving average price is $31.50. Suncor Energy Inc. has a one year low of $25.70 and a one year high of $33.79.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Shareholders of record on Monday, June 5th will be paid a dividend of $0.2371 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.21%. Suncor Energy ‘s dividend payout ratio is currently 141.79%.
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Several research firms have recently issued reports on SU. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) upgraded shares of Suncor Energy from a “buy” rating to a “conviction-buy” rating and upped their target price for the stock from $25.00 to $34.00 in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Scotiabank lowered shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 9th. Simmons reduced their price target on shares of Suncor Energy from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Finally, Canaccord Genuity restated a “buy” rating and set a $52.00 price target on shares of Suncor Energy in a research report on Saturday, March 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $42.49.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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