Harbor Investment Advisory LLC Cuts Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Harbor Investment Advisory LLC lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,611 shares of the oil and gas producer’s stock after selling 511 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Suncor Energy were worth $1,418,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its stake in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of Suncor Energy in the 4th quarter valued at about $35,000. Lee Danner & Bass Inc. bought a new stake in shares of Suncor Energy in the 4th quarter valued at about $36,000. Golden State Wealth Management LLC purchased a new position in shares of Suncor Energy in the 4th quarter worth approximately $39,000. Finally, Covestor Ltd raised its stake in shares of Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 0.4%

NYSE:SU opened at $35.60 on Monday. The company has a market capitalization of $43.90 billion, a P/E ratio of 10.32, a PEG ratio of 2.94 and a beta of 0.79. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.95. The firm has a fifty day simple moving average of $35.32 and a 200-day simple moving average of $37.08.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same quarter last year, the business posted $1.41 EPS. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.4133 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.64%. Suncor Energy’s payout ratio is 45.53%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Scotiabank raised Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Bank of America initiated coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating on the stock. Finally, Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.67.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.