Barings LLC Sells 266,680 Shares of Suncor Energy Inc. $SU

Barings LLC decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 75.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 87,175 shares of the oil and gas producer’s stock after selling 266,680 shares during the quarter. Barings LLC’s holdings in Suncor Energy were worth $3,869,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SU. Fisher Asset Management LLC boosted its stake in Suncor Energy by 85.5% in 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 shares of 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 valued at $557,682,000 after purchasing an additional 5,113,280 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of 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 valued at $108,324,000 after purchasing an additional 1,995,007 shares during the last quarter. Bank of Nova Scotia increased its position in shares of 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 valued at $210,474,000 after purchasing an additional 1,952,444 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Suncor Energy by 173.2% in 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 acquiring an additional 1,924,923 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SU shares. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings downgraded Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Friday, June 5th. Finally, Royal Bank Of Canada raised their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Suncor Energy Stock Performance

SU stock opened at $61.81 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $65.01 and its two-hundred day simple moving average is $56.33. Suncor Energy Inc. has a twelve month low of $37.22 and a twelve month high of $70.29. The firm has a market cap of $72.98 billion, a price-to-earnings ratio of 16.22 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data 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). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company earned $1.31 earnings per share. Analysts predict that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. Suncor Energy’s dividend payout ratio is 45.67%.

Suncor Energy Company 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.