Oppenheimer Asset Management Inc. Sells 844 Shares of Suncor Energy Inc. (NYSE:SU)

Oppenheimer Asset Management Inc. lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,979 shares of the oil and gas producer’s stock after selling 844 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Suncor Energy were worth $1,771,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Suncor Energy by 1.4% during 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 acquiring an additional 691,497 shares during the period. The Manufacturers Life Insurance Company lifted its position in Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Suncor Energy by 1.6% in the 2nd 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 purchasing an additional 366,432 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Suncor Energy by 4.1% during the 1st quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after buying an additional 868,475 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Suncor Energy by 5.9% during 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 buying an additional 1,031,542 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SU shares. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday. 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 note on Wednesday, August 7th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Stock Up 0.1 %

Suncor Energy stock opened at $40.48 on Monday. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.94. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $38.40 and a 200-day moving average of $38.77. The stock has a market capitalization of $51.08 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 2.87 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is 36.60%.

Suncor Energy Company 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.