Suncor Energy Inc. (NYSE:SU) Holdings Cut by UMB Bank n.a.

UMB Bank n.a. reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 39.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,089 shares of the oil and gas producer’s stock after selling 711 shares during the period. UMB Bank n.a.’s holdings in Suncor Energy were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SU. Vanguard Group Inc. grew its stake in Suncor Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock valued at $1,890,768,000 after purchasing an additional 691,497 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after buying an additional 1,209,073 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Suncor Energy by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after acquiring an additional 366,432 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Suncor Energy by 4.1% in the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock valued at $817,835,000 after acquiring an additional 868,475 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 owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SU. Scotiabank reduced their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Wolfe Research assumed coverage on Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.83.

Suncor Energy Trading Down 0.9 %

Shares of Suncor Energy stock opened at $40.03 on Tuesday. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The company’s fifty day simple moving average is $39.03 and its 200-day simple moving average is $38.71. The company has a market cap of $50.69 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 2.72 and a beta of 1.12. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

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

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s payout ratio is 37.59%.

About Suncor Energy

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.