Suncor Energy Inc. (NYSE:SU) Shares Sold by State Street Corp

State Street Corp cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 43,693 shares of the oil and gas producer’s stock after selling 290 shares during the quarter. State Street Corp’s holdings in Suncor Energy were worth $1,613,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SU. Eastern Bank purchased a new position in Suncor Energy in the third quarter worth approximately $25,000. Richardson Financial Services Inc. grew its stake in Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 328 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in Suncor Energy during the 3rd quarter worth $49,000. Transamerica Financial Advisors Inc. grew its stake in shares of Suncor Energy by 2,311.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 1,895 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new stake in Suncor Energy in the second quarter valued at about $82,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Friday, December 20th. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Price Performance

SU opened at $35.68 on Thursday. Suncor Energy Inc. has a 1 year low of $31.03 and a 1 year high of $41.94. The company’s 50 day simple moving average is $38.09 and its 200 day simple moving average is $38.44. The stock has a market capitalization of $44.89 billion, a PE ratio of 7.77, a P/E/G ratio of 2.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.58%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is presently 36.60%.

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.