Russell Investments Group Ltd. Decreases Stock Position in Suncor Energy Inc. (NYSE:SU)

Russell Investments Group Ltd. decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 40.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,815,769 shares of the oil and gas producer’s stock after selling 1,229,863 shares during the quarter. Russell Investments Group Ltd.’s holdings in Suncor Energy were worth $64,726,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SU. HHM Wealth Advisors LLC boosted its stake in Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Suncor Energy during the 4th quarter valued at approximately $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy in the fourth quarter valued at $36,000. Golden State Wealth Management LLC bought a new stake in Suncor Energy in the fourth quarter worth $39,000. Finally, Stonebridge Financial Group LLC purchased a new stake in Suncor Energy during the fourth quarter valued at $45,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

SU opened at $33.19 on Monday. The business has a fifty day moving average of $37.94 and a 200 day moving average of $38.21. The stock has a market cap of $41.06 billion, a P/E ratio of 9.62, a PEG ratio of 2.94 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 52-week low of $32.20 and a 52-week high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were paid a $0.399 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.81%. Suncor Energy’s dividend payout ratio is currently 45.51%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, April 1st. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Scotiabank raised Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Finally, Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.

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.