Tidal Investments LLC Sells 74,066 Shares of Suncor Energy Inc. $SU

Tidal Investments LLC decreased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 435,836 shares of the oil and gas producer’s stock after selling 74,066 shares during the quarter. Tidal Investments LLC’s holdings in Suncor Energy were worth $23,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc increased its position in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares during the period. Continuum Advisory LLC purchased a new position in shares of Suncor Energy during the second quarter valued at about $27,000. Headlands Technologies LLC bought a new position in Suncor Energy in the second quarter worth about $31,000. 1 North Wealth Services LLC bought a new position in Suncor Energy in the fourth quarter worth about $32,000. Finally, Accent Capital Management LLC lifted its holdings in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 225 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Desjardins raised Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Morgan Stanley set a $106.00 price target on Suncor Energy in a research note on Wednesday, August 19th. Finally, Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.25.

Suncor Energy Stock Down 0.2%

SU stock opened at $68.89 on Friday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The firm has a market cap of $80.58 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.50 and a beta of 0.30. The business has a 50 day moving average of $64.36 and a 200 day moving average of $62.90.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same period in the previous year, the company posted $0.71 earnings per share. On average, research analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s payout ratio is currently 31.86%.

Suncor Energy Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations include the development, production and upgrading of oil sands resources, conventional oil and natural gas production, and the refining and marketing of petroleum products.

Suncor produces crude oil, synthetic crude oil, refined fuels, lubricants and petrochemical feedstocks. Through its Petro-Canada brand, the company operates retail fuel stations and convenience stores across Canada, while its refining and marketing activities serve customers in Canada and the United States.

Founded in 1919, Suncor has evolved from an oil sands producer into one of Canada’s largest integrated energy companies.