Massachusetts Financial Services Co. MA Has $786.93 Million Holdings in Suncor Energy Inc. $SU

Massachusetts Financial Services Co. MA trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,821,533 shares of the oil and gas producer’s stock after selling 713,678 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.56% of Suncor Energy worth $786,928,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SU. Richardson Financial Services Inc. lifted its holdings in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 275 shares during the period. Headlands Technologies LLC acquired a new position in Suncor Energy in the second quarter worth about $31,000. Maseco LLP bought a new position in Suncor Energy during the second quarter worth about $32,000. Hanson & Doremus Investment Management lifted its stake in Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 465 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in Suncor Energy during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analysts Set New Price Targets

SU has been the subject of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, January 2nd. Finally, Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and a consensus target price of $56.50.

Suncor Energy Stock Up 1.6%

Shares of SU opened at $49.73 on Friday. The business’s fifty day moving average price is $44.62 and its two-hundred day moving average price is $41.70. The firm has a market capitalization of $59.35 billion, a price-to-earnings ratio of 16.30 and a beta of 0.46. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $50.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same quarter in the previous year, the company posted $1.48 earnings per share. On average, analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were paid a $0.60 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $2.40 annualized dividend and a dividend yield of 4.8%. Suncor Energy’s payout ratio is 56.07%.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.