Locust Wood Capital Advisers LLC Sells 51,260 Shares of Suncor Energy Inc. $SU

Locust Wood Capital Advisers LLC decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,250,426 shares of the oil and gas producer’s stock after selling 51,260 shares during the quarter. Suncor Energy makes up 2.4% of Locust Wood Capital Advisers LLC’s investment portfolio, making the stock its 19th largest position. Locust Wood Capital Advisers LLC’s holdings in Suncor Energy were worth $94,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. boosted its position in Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares during the period. Headlands Technologies LLC purchased a new position in Suncor Energy in the 2nd quarter valued at approximately $31,000. Maseco LLP purchased a new position in Suncor Energy in the 2nd quarter valued at approximately $32,000. Hanson & Doremus Investment Management raised its holdings in Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 465 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Suncor Energy during the second quarter worth $37,000. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SU has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $46.15 to $54.00 in a research note on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Finally, The Goldman Sachs Group raised their price target on Suncor Energy from $46.00 to $48.00 and gave the company a “buy” rating in a report on Friday, January 2nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $55.67.

Suncor Energy Trading Up 2.3%

Shares of SU opened at $50.50 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $50.82. The firm has a 50 day moving average price of $44.99 and a 200-day moving average price of $41.94. The firm has a market cap of $60.27 billion, a price-to-earnings ratio of 16.56 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the business posted $1.48 earnings per share. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a dividend yield of 4.8%. Suncor Energy’s payout ratio is presently 56.39%.

About Suncor Energy

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.