Sanders Capital LLC Sells 21,436,483 Shares of Suncor Energy Inc. $SU

Sanders Capital LLC decreased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 84.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,993,467 shares of the oil and gas producer’s stock after selling 21,436,483 shares during the quarter. Sanders Capital LLC owned 0.33% of Suncor Energy worth $149,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in shares of Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after acquiring an additional 12,318,559 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Suncor Energy by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock valued at $481,135,000 after purchasing an additional 5,658,880 shares during the period. Nuveen LLC purchased a new stake in Suncor Energy in the first quarter worth approximately $126,048,000. Mackenzie Financial Corp boosted its holdings in Suncor Energy by 18.6% in the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock worth $595,398,000 after purchasing an additional 2,410,857 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its position in Suncor Energy by 1,025.0% in the 1st quarter. AustralianSuper Pty Ltd now owns 2,149,643 shares of the oil and gas producer’s stock worth $83,248,000 after purchasing an additional 1,958,570 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $44.32 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a 50-day simple moving average of $41.13 and a two-hundred day simple moving average of $39.24. The firm has a market capitalization of $53.47 billion, a PE ratio of 13.64, a P/E/G ratio of 3.52 and a beta of 0.75. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $44.70.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period in the previous year, the firm earned $1.48 EPS. Analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be given a $0.60 dividend. The ex-dividend date is Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.4%. Suncor Energy’s dividend payout ratio (DPR) is currently 55.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SU shares. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Thursday. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a research report on Friday, October 3rd. Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Company Profile

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.