Public Sector Pension Investment Board Sells 11,016 Shares of Suncor Energy Inc. (NYSE:SU)

Public Sector Pension Investment Board trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.9% in the 2nd quarter, Holdings Channel reports. The firm owned 174,298 shares of the oil and gas producer’s stock after selling 11,016 shares during the quarter. Public Sector Pension Investment Board’s holdings in Suncor Energy were worth $6,643,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Sanders Capital LLC increased its position in shares of Suncor Energy by 2.8% in the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after purchasing an additional 1,568,629 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Suncor Energy by 2,358.4% in the 1st quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock worth $635,000 after buying an additional 16,509 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Suncor Energy during the 1st quarter valued at $2,940,000. Assenagon Asset Management S.A. lifted its holdings in shares of Suncor Energy by 90.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Suncor Energy by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock worth $683,916,000 after acquiring an additional 1,031,542 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Up 0.9 %

Shares of Suncor Energy stock opened at $38.19 on Wednesday. The company’s fifty day simple moving average is $38.87 and its two-hundred day simple moving average is $38.43. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The company has a market cap of $48.52 billion, a P/E ratio of 8.51, a PEG ratio of 2.55 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. Suncor Energy’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. Research analysts anticipate that Suncor Energy Inc. will post 3.71 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.14%. Suncor Energy’s dividend payout ratio is presently 36.08%.

Analyst Ratings Changes

SU has been the topic of a number of research reports. Wolfe Research began coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target on the stock. Scotiabank dropped their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Profile

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.