Check Capital Management Inc. CA Sells 35,905 Shares of Suncor Energy Inc. (NYSE:SU)

Check Capital Management Inc. CA reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,748,306 shares of the oil and gas producer’s stock after selling 35,905 shares during the quarter. Suncor Energy makes up about 2.1% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 7th largest holding. Check Capital Management Inc. CA’s holdings in Suncor Energy were worth $56,016,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SU. Mraz Amerine & Associates Inc. increased its holdings in shares of Suncor Energy by 14.4% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 24,219 shares of the oil and gas producer’s stock valued at $776,000 after acquiring an additional 3,045 shares during the last quarter. Cullen Investment Group LTD. bought a new stake in Suncor Energy during the 4th quarter valued at approximately $1,150,000. Beverly Hills Private Wealth LLC bought a new stake in Suncor Energy during the 4th quarter valued at approximately $371,000. NewEdge Wealth LLC boosted its stake in Suncor Energy by 9.9% during the 4th quarter. NewEdge Wealth LLC now owns 587,664 shares of the oil and gas producer’s stock valued at $18,829,000 after purchasing an additional 52,802 shares during the period. Finally, Clarius Group LLC boosted its stake in Suncor Energy by 62.2% during the 4th quarter. Clarius Group LLC now owns 11,235 shares of the oil and gas producer’s stock valued at $360,000 after purchasing an additional 4,307 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SU. Morgan Stanley increased their target price on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Suncor Energy Price Performance

Shares of SU traded up $0.48 during mid-day trading on Friday, reaching $38.54. The company had a trading volume of 4,912,495 shares, compared to its average volume of 4,343,938. Suncor Energy Inc. has a twelve month low of $27.59 and a twelve month high of $39.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. The company’s 50-day moving average is $35.62 and its 200-day moving average is $33.64. The company has a market capitalization of $49.60 billion, a P/E ratio of 8.22, a P/E/G ratio of 3.34 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The firm had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. During the same period last year, the firm posted $1.33 EPS. On average, equities analysts anticipate that Suncor Energy Inc. will post 3.78 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a dividend of $0.406 per share. This represents a $1.62 dividend on an annualized basis and a yield of 4.21%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 1st. Suncor Energy’s dividend payout ratio (DPR) is currently 34.26%.

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.