Avantax Advisory Services Inc. Sells 1,501 Shares of Suncor Energy Inc. (NYSE:SU)

Avantax Advisory Services Inc. cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,619 shares of the oil and gas producer’s stock after selling 1,501 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Suncor Energy were worth $522,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its position in shares of Suncor Energy by 32.3% during the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock worth $3,035,000 after acquiring an additional 20,081 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock worth $2,421,000 after buying an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC acquired a new position in Suncor Energy in the fourth quarter valued at $300,000. J.W. Cole Advisors Inc. bought a new stake in Suncor Energy during the fourth quarter valued at $236,000. Finally, Bank of New York Mellon Corp grew its holdings in Suncor Energy by 104.2% during the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock worth $110,017,000 after acquiring an additional 1,573,726 shares during the period. 67.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SU. Bank of America began coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research report on Wednesday. Finally, Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $37.46 on Friday. Suncor Energy Inc. has a 12 month low of $33.81 and a 12 month high of $41.95. The firm has a market capitalization of $46.34 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The business’s fifty day simple moving average is $38.22 and its 200 day simple moving average is $38.14. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be issued a $0.399 dividend. This represents a $1.60 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

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.