M&R Capital Management Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 59.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,585 shares of the oil and gas producer’s stock after selling 6,680 shares during the quarter. M&R Capital Management Inc.’s holdings in Suncor Energy were worth $148,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Suncor Energy by 11,547,276.0% in the first quarter. BlackRock Inc. now owns 23,556,647 shares of the oil and gas producer’s stock worth $724,366,000 after acquiring an additional 23,556,443 shares in the last quarter. Capital International Investors acquired a new position in shares of Suncor Energy in the second quarter worth about $106,342,000. Janus Henderson Group PLC acquired a new position in shares of Suncor Energy in the second quarter worth about $99,291,000. Dodge & Cox lifted its stake in shares of Suncor Energy by 7.6% in the second quarter. Dodge & Cox now owns 36,821,800 shares of the oil and gas producer’s stock worth $1,075,197,000 after acquiring an additional 2,587,900 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Suncor Energy by 30.4% in the first quarter. Bank of America Corp DE now owns 8,870,177 shares of the oil and gas producer’s stock worth $272,758,000 after acquiring an additional 2,065,451 shares in the last quarter. Institutional investors own 64.05% of the company’s stock.
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Shares of Suncor Energy Inc. (NYSE SU) traded up 0.38% during trading on Wednesday, hitting $34.69. The stock had a trading volume of 661,792 shares. Suncor Energy Inc. has a one year low of $27.67 and a one year high of $35.18. The stock’s 50-day moving average price is $33.37 and its 200 day moving average price is $31.49. The stock has a market cap of $57.56 billion, a price-to-earnings ratio of 27.10 and a beta of 0.83.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th were issued a dividend of $0.2552 per share. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, August 31st. This represents a $1.02 annualized dividend and a dividend yield of 2.95%. Suncor Energy ‘s dividend payout ratio (DPR) is presently 84.43%.
Several research analysts recently commented on the company. BidaskClub cut Suncor Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Piper Jaffray Companies cut their price target on Suncor Energy from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. National Bank Financial began coverage on Suncor Energy in a report on Tuesday, June 27th. They issued an “outperform” rating for the company. AltaCorp Capital lowered Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, July 28th. Finally, Zacks Investment Research lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $42.86.
Suncor Energy Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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