Suncor Energy Inc. $SU Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 404,308 shares of the oil and gas producer’s stock after selling 7,570 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Suncor Energy were worth $27,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SU. HighTower Advisors LLC boosted its stake in shares of Suncor Energy by 255.0% in the second quarter. HighTower Advisors LLC now owns 78,316 shares of the oil and gas producer’s stock valued at $4,204,000 after purchasing an additional 56,254 shares during the period. Dimensional Fund Advisors LP grew its holdings in Suncor Energy by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock valued at $833,622,000 after purchasing an additional 411,243 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Suncor Energy by 6.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock worth $55,802,000 after buying an additional 50,502 shares during the period. TD Waterhouse Canada Inc. increased its stake in Suncor Energy by 2.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock worth $625,497,000 after buying an additional 239,208 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Suncor Energy during the 2nd quarter worth $351,892,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SU. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Morgan Stanley set a $106.00 target price on Suncor Energy in a research note on Wednesday, August 19th. Desjardins raised Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Suncor Energy currently has an average rating of “Buy” and an average price target of $81.71.

Suncor Energy Stock Performance

Suncor Energy stock opened at $68.96 on Thursday. The stock has a market cap of $79.89 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 0.22 and a beta of 0.22. The company has a current ratio of 1.71, a quick ratio of 1.27 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $71.66 and a 200-day moving average of $64.11. Suncor Energy Inc. has a 52 week low of $42.09 and a 52 week high of $80.25.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.49. The business had revenue of $13.26 billion during the quarter, compared to analyst estimates of $11.85 billion. Suncor Energy had a net margin of 17.49% and a return on equity of 25.55%. During the same quarter in the previous year, the firm earned $1.48 earnings per share. On average, analysts expect that Suncor Energy Inc. will post 9.30 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Thursday, December 3rd will be paid a C$0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.8%. This is a positive change from Suncor Energy’s previous quarterly dividend of C$0.60. The ex-dividend date is Thursday, December 3rd. Suncor Energy’s payout ratio is 25.44%.

Suncor Energy Company Profile

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products. The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.