Arrowstreet Capital Limited Partnership Sells 1,554,010 Shares of Suncor Energy Inc. $SU

Arrowstreet Capital Limited Partnership cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,781,229 shares of the oil and gas producer’s stock after selling 1,554,010 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Suncor Energy were worth $522,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Atlas Capital Advisors Inc. bought a new position in shares of Suncor Energy in the 4th quarter worth about $139,000. Kestra Advisory Services LLC raised its position in shares of Suncor Energy by 12.1% in the 4th quarter. Kestra Advisory Services LLC now owns 49,267 shares of the oil and gas producer’s stock worth $2,185,000 after acquiring an additional 5,310 shares in the last quarter. Transamerica Financial Advisors LLC raised its position in shares of Suncor Energy by 82.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,209 shares of the oil and gas producer’s stock worth $187,000 after acquiring an additional 1,897 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Suncor Energy by 31.1% in the 4th quarter. UMB Bank n.a. now owns 2,346 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 557 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of Suncor Energy by 31.2% in the 4th quarter. Stifel Financial Corp now owns 135,870 shares of the oil and gas producer’s stock valued at $6,027,000 after buying an additional 32,327 shares during the period. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SU has been the subject of several research reports. Weiss Ratings downgraded Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Friday, June 5th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Stock Performance

Shares of SU opened at $61.56 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The stock has a 50-day moving average of $64.94 and a 200-day moving average of $56.36. The company has a market cap of $72.69 billion, a PE ratio of 16.16 and a beta of 0.27. Suncor Energy Inc. has a one year low of $37.22 and a one year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the business earned $1.31 earnings per share. On average, equities research analysts predict that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. Suncor Energy’s payout ratio is 45.41%.

Suncor Energy 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.