Letko Brosseau & Associates Inc. Sells 406,125 Shares of Suncor Energy Inc. $SU

Letko Brosseau & Associates Inc. trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,661,252 shares of the oil and gas producer’s stock after selling 406,125 shares during the period. Letko Brosseau & Associates Inc. owned 0.14% of Suncor Energy worth $73,831,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Suncor Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock valued at $2,473,173,000 after purchasing an additional 1,166,405 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Suncor Energy by 0.4% during the 3rd 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 acquiring an additional 145,800 shares during the last quarter. Dodge & Cox lifted its holdings in shares of Suncor Energy by 0.3% during the 3rd quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock worth $1,148,602,000 after acquiring an additional 70,300 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Suncor Energy by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock worth $860,933,000 after acquiring an additional 516,783 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Suncor Energy by 8.3% during the 4th quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock worth $746,176,000 after acquiring an additional 1,289,959 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SU has been the subject of a number of research analyst reports. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Friday. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Royal Bank Of Canada lifted their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Weiss Ratings downgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Suncor Energy Stock Performance

Suncor Energy stock opened at $61.15 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $72.21 billion, a PE ratio of 16.05 and a beta of 0.27. The firm has a fifty day simple moving average of $65.17 and a two-hundred day simple moving average of $56.08. Suncor Energy Inc. has a twelve month low of $37.13 and a twelve month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. Research analysts expect that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a $0.60 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy’s payout ratio is presently 45.67%.

Suncor Energy 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.