Massachusetts Financial Services Co. MA Lowers Holdings in Suncor Energy Inc. $SU

Massachusetts Financial Services Co. MA decreased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 56.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,125,478 shares of the oil and gas producer’s stock after selling 10,696,055 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.68% of Suncor Energy worth $360,446,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Artisan Partners Limited Partnership boosted its position in Suncor Energy by 0.4% during the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock worth $1,417,029,000 after purchasing an additional 145,800 shares in the last quarter. Dodge & Cox boosted its position in Suncor Energy by 0.3% during the third quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock worth $1,148,602,000 after purchasing an additional 70,300 shares in the last quarter. Principal Financial Group Inc. boosted its position in Suncor Energy by 0.6% during the third quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock worth $789,213,000 after purchasing an additional 106,765 shares in the last quarter. Fisher Asset Management LLC boosted its position in Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock worth $649,350,000 after purchasing an additional 7,158,953 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Suncor Energy by 62.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock worth $557,682,000 after purchasing an additional 5,113,280 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SU shares. Royal Bank Of Canada increased their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Finally, Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $72.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $64.47 on Friday. The business has a 50 day simple moving average of $59.38 and a two-hundred day simple moving average of $49.28. Suncor Energy Inc. has a 12 month low of $32.17 and a 12 month high of $67.76. The stock has a market capitalization of $76.52 billion, a P/E ratio of 18.58 and a beta of 0.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. As a group, analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. Suncor Energy’s dividend payout ratio is presently 50.72%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.