Suncor Energy Inc. $SU Shares Sold by Entropy Technologies LP

Entropy Technologies LP lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 50.6% in the fourth quarter, HoldingsChannel reports. The fund owned 48,812 shares of the oil and gas producer’s stock after selling 50,068 shares during the quarter. Entropy Technologies LP’s holdings in Suncor Energy were worth $2,165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC increased its position in Suncor Energy by 85.5% during the 3rd quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock worth $649,350,000 after purchasing an additional 7,158,953 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Suncor Energy by 62.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock worth $557,682,000 after purchasing an additional 5,113,280 shares in the last quarter. Alyeska Investment Group L.P. increased its position in Suncor Energy by 334.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock worth $108,324,000 after purchasing an additional 1,995,007 shares in the last quarter. Bank of Nova Scotia increased its position in Suncor Energy by 63.5% during the 3rd quarter. Bank of Nova Scotia now owns 5,028,399 shares of the oil and gas producer’s stock worth $210,474,000 after purchasing an additional 1,952,444 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Suncor Energy by 173.2% during the 3rd quarter. Lazard Asset Management LLC now owns 3,036,031 shares of the oil and gas producer’s stock worth $126,994,000 after purchasing an additional 1,924,923 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SU shares. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research report on Friday, June 5th. Royal Bank Of Canada increased their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings downgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Suncor Energy Stock Down 3.2%

NYSE SU opened at $59.61 on Tuesday. The stock has a market cap of $70.38 billion, a PE ratio of 15.64 and a beta of 0.27. Suncor Energy Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $70.29. The business has a 50 day moving average price of $64.81 and a two-hundred day moving average price of $56.56. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the prior year, the company earned $1.31 EPS. As a group, sell-side analysts predict that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio is currently 45.67%.

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.