Hennessy Advisors Inc. Lowers Stake in Suncor Energy Inc. $SU

Hennessy Advisors Inc. lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 144,160 shares of the oil and gas producer’s stock after selling 13,600 shares during the period. Hennessy Advisors Inc.’s holdings in Suncor Energy were worth $6,027,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at $31,000. Maseco LLP purchased a new position in Suncor Energy during the 2nd quarter valued at about $32,000. Hanson & Doremus Investment Management grew its position in Suncor Energy by 143.5% in 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 in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Suncor Energy during the second quarter worth about $37,000. Finally, Corsicana & Co. purchased a new stake in Suncor Energy during the third quarter worth about $42,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SU has been the subject of a number of research reports. Wall Street Zen cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Wells Fargo & Company began coverage on shares of Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating for the company. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $65.00.

Suncor Energy Price Performance

Suncor Energy stock opened at $44.37 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $43.17 and a 200-day simple moving average of $41.07. The stock has a market cap of $53.17 billion, a P/E ratio of 14.55 and a beta of 0.46. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $45.60.

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

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were paid a dividend of $0.60 per share. The ex-dividend date 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 yield of 5.4%. Suncor Energy’s dividend payout ratio (DPR) is presently 56.39%.

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.