Fairbanks Capital Management Inc. reduced its holdings in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 22.9% in the 1st quarter, Holdings Channel reports. The fund owned 91,479 shares of the oil and gas producer’s stock after selling 27,167 shares during the quarter. Suncor Energy accounts for 3.8% of Fairbanks Capital Management Inc.’s portfolio, making the stock its 10th biggest position. Fairbanks Capital Management Inc.’s holdings in Suncor Energy were worth $6,048,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SU. Atlantic Edge Private Wealth Management LLC grew its position in shares of Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 225 shares during the period. Headlands Technologies LLC bought a new position in Suncor Energy during the 2nd quarter worth about $31,000. 1 North Wealth Services LLC acquired a new stake in shares of Suncor Energy in the 4th quarter valued at about $32,000. Accent Capital Management LLC raised its stake in shares of Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the period. Finally, Maseco LLP bought a new stake in shares of Suncor Energy in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently issued reports on SU. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Weiss Ratings cut shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $71.67.
Suncor Energy Stock Performance
SU opened at $64.75 on Thursday. The business’s 50-day simple moving average is $60.97 and its 200 day simple moving average is $59.19. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The firm has a market capitalization of $76.46 billion, a PE ratio of 17.00 and a beta of 0.30.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business earned $1.31 earnings per share. As a group, sell-side analysts expect that Suncor Energy Inc. will post 6.9 earnings per share for the current fiscal year.
Suncor Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 45.67%.
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.
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