Prospector Partners LLC Sells 21,867 Shares of Suncor Energy Inc. $SU

Prospector Partners LLC lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 163,246 shares of the oil and gas producer’s stock after selling 21,867 shares during the quarter. Prospector Partners LLC’s holdings in Suncor Energy were worth $6,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. raised its holdings in 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 valued at $29,000 after acquiring an additional 275 shares during the period. Headlands Technologies LLC bought a new position in shares of Suncor Energy in the second quarter worth $31,000. Hanson & Doremus Investment Management grew its position in shares of Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 465 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 388 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in Suncor Energy during the 2nd quarter worth about $37,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Up 1.4%

Shares of SU opened at $55.85 on Thursday. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $56.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $48.66 and a two-hundred day simple moving average of $43.94. The firm has a market cap of $66.45 billion, a P/E ratio of 16.09 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same period last year, the firm posted $1.25 earnings per share. On average, analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is presently 49.57%.

Wall Street Analyst Weigh In

SU has been the topic of a number of analyst reports. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Suncor Energy Company Profile

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.