Franklin Resources Inc. trimmed its position in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,751,721 shares of the oil and gas producer’s stock after selling 285,250 shares during the period. Franklin Resources Inc. owned approximately 0.40% of Suncor Energy worth $210,880,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SU. AQR Capital Management LLC increased its position in Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 464 shares in the last quarter. AXA S.A. increased its position in Suncor Energy by 17.2% in the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after buying an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Suncor Energy by 6.4% in the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock valued at $2,514,000 after buying an additional 4,043 shares in the last quarter. 67.37% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
SU has been the subject of a number of research analyst reports. Weiss Ratings lowered Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada lifted their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Friday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.67.
Suncor Energy Price Performance
SU stock opened at $61.15 on Wednesday. The company has a market capitalization of $72.21 billion, a P/E ratio of 16.05 and a beta of 0.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. Suncor Energy Inc. has a 52-week low of $37.13 and a 52-week high of $70.29. The business has a 50-day simple moving average of $65.17 and a two-hundred day simple moving average of $56.08.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last released its quarterly earnings results 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). The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter last year, the firm posted $1.31 EPS. Research analysts expect that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.
Suncor Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio is currently 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.
Featured Articles
- Five stocks we like better than Suncor Energy
- The Bank of Mom and Dad Is Booming—3 Stocks to Watch
- Corning Is Paving AI’s Future With Glass
- Why’s Amazon Suddenly Lagging the S&P 500, and Is It a Warning?
- Crypto Winter Is Here: 3 Stocks To Put On Ice This Summer
Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.
