Delta Investment Management LLC Sells 3,113 Shares of Suncor Energy Inc. $SU

Delta Investment Management LLC cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,194 shares of the oil and gas producer’s stock after selling 3,113 shares during the period. Delta Investment Management LLC’s holdings in Suncor Energy were worth $644,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Maseco LLP purchased a new stake in Suncor Energy in the 2nd quarter worth about $32,000. N.E.W. Advisory Services LLC purchased a new stake in Suncor Energy in the 1st quarter worth about $36,000. Wayfinding Financial LLC purchased a new stake in Suncor Energy in the 1st quarter worth about $42,000. Harbour Investments Inc. increased its holdings in Suncor Energy by 67.0% in the 1st quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 469 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Suncor Energy by 27.6% in the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 309 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SU. Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Wells Fargo & Company started coverage on Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Suncor Energy in a report on Friday. Finally, Zacks Research lowered Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Suncor Energy Stock Performance

Shares of SU opened at $39.80 on Monday. The company has a market cap of $48.12 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 3.51 and a beta of 0.78. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $40.71 and a 200-day moving average price of $38.49. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same quarter last year, the company posted $1.27 EPS. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were given a dividend of $0.4135 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.2%. Suncor Energy’s dividend payout ratio is 51.08%.

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.