Suncor Energy Inc. $SU Stake Decreased by Royal Fund Management LLC

Royal Fund Management LLC trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,829 shares of the oil and gas producer’s stock after selling 12,361 shares during the quarter. Royal Fund Management LLC’s holdings in Suncor Energy were worth $4,604,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SU. Versant Capital Management Inc boosted its position in shares of Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 398 shares during the period. Continuum Advisory LLC purchased a new position in Suncor Energy during the second quarter valued at approximately $27,000. Sawyer & Company Inc bought a new stake in Suncor Energy during the 3rd quarter worth approximately $44,000. Cassaday & Co Wealth Management LLC bought a new stake in Suncor Energy during the 1st quarter worth approximately $53,000. Finally, Vestor Capital LLC bought a new stake in Suncor Energy during the 1st quarter worth approximately $59,000. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SU has been the topic of several recent analyst reports. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Morgan Stanley set a $106.00 price target on shares of Suncor Energy in a research report on Wednesday, August 19th. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Finally, Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $79.62.

Suncor Energy Stock Performance

NYSE:SU opened at $77.40 on Friday. The stock has a market cap of $90.53 billion, a P/E ratio of 14.11, a PEG ratio of 0.27 and a beta of 0.36. 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 business’s 50-day moving average price is $69.73 and its two-hundred day moving average price is $65.13. Suncor Energy Inc. has a twelve month low of $38.72 and a twelve month high of $80.25.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data 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 company had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, equities analysts predict that Suncor Energy Inc. will post 8.76 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a C$0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 31.86%.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.