Wedbush Securities Inc. lowered its holdings in Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) by 36.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,077 shares of the oil and gas producer’s stock after selling 4,005 shares during the period. Wedbush Securities Inc.’s holdings in Suncor Energy were worth $225,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toth Financial Advisory Corp increased its holdings in shares of Suncor Energy by 42.9% in the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 300 shares during the period. Schechter Investment Advisors LLC raised its holdings in shares of Suncor Energy by 1.3% during the third quarter. Schechter Investment Advisors LLC now owns 24,716 shares of the oil and gas producer’s stock valued at $696,000 after buying an additional 327 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Suncor Energy by 5.1% during the third quarter. Checchi Capital Advisers LLC now owns 7,106 shares of the oil and gas producer’s stock valued at $200,000 after buying an additional 345 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Suncor Energy by 22.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,127 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 392 shares in the last quarter. Finally, Arden Trust Co increased its position in Suncor Energy by 1.3% in the 3rd quarter. Arden Trust Co now owns 31,265 shares of the oil and gas producer’s stock valued at $880,000 after acquiring an additional 397 shares during the period. 58.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SU. National Bank Financial boosted their price target on Suncor Energy from C$54.00 to C$57.00 in a research report on Wednesday, January 11th. Scotiabank lowered shares of Suncor Energy from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, March 21st. StockNews.com began coverage on shares of Suncor Energy in a research report on Thursday, March 16th. They set a “hold” rating on the stock. TD Securities upped their price target on shares of Suncor Energy from C$52.00 to C$53.00 in a research note on Wednesday, February 15th. Finally, Wells Fargo & Company lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.13.
Suncor Energy Stock Down 2.0 %
Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) last posted its quarterly earnings results on Tuesday, February 14th. The oil and gas producer reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.07. Suncor Energy had a net margin of 15.55% and a return on equity of 29.52%. The firm had revenue of $10.21 billion for the quarter, compared to analyst estimates of $9.65 billion. Equities research analysts expect that Suncor Energy Inc. will post 4.1 earnings per share for the current fiscal year.
Suncor Energy Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 3rd were issued a dividend of $0.391 per share. This represents a $1.56 annualized dividend and a dividend yield of 4.94%. The ex-dividend date was Thursday, March 2nd. Suncor Energy’s dividend payout ratio is 30.34%.
Suncor Energy Profile
Suncor Energy, Inc is an integrated energy company, which engages in the development of petroleum resource basins. It operates through the following segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment operates assets in the Athabasca oil sands of northeast Alberta.
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