Covestor Ltd Sells 1,292 Shares of Suncor Energy Inc. (NYSE:SU)

Covestor Ltd trimmed its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 60.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 839 shares of the oil and gas producer’s stock after selling 1,292 shares during the quarter. Covestor Ltd’s holdings in Suncor Energy were worth $31,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Suncor Energy by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock worth $1,890,768,000 after buying an additional 691,497 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Suncor Energy by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after purchasing an additional 366,432 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Suncor Energy by 4.1% during the 1st quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock valued at $817,835,000 after purchasing an additional 868,475 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Suncor Energy by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after purchasing an additional 1,031,542 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Up 0.1 %

SU stock opened at $40.47 on Friday. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.94. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The stock has a market cap of $51.06 billion, a P/E ratio of 8.85, a PEG ratio of 2.81 and a beta of 1.12. The business’s 50-day moving average price is $38.34 and its 200-day moving average price is $38.75.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 35.29%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SU. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.40.

About Suncor Energy

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.