Farmers & Merchants Investments Inc. Trims Stock Position in Suncor Energy Inc. (NYSE:SU)

Farmers & Merchants Investments Inc. cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,915 shares of the oil and gas producer’s stock after selling 540 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Suncor Energy were worth $403,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank lifted its stake in shares of Suncor Energy by 59.7% during the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after buying an additional 6,580,260 shares during the period. Assenagon Asset Management S.A. grew its position in Suncor Energy by 90.9% during the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after acquiring an additional 3,951,287 shares during the period. National Bank of Canada FI increased its stake in Suncor Energy by 60.7% during the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after acquiring an additional 3,272,896 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Suncor Energy by 305.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock worth $63,687,000 after purchasing an additional 1,300,000 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of NYSE SU opened at $38.07 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The business has a 50 day moving average price of $38.70 and a two-hundred day moving average price of $38.74. The firm has a market cap of $48.78 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 2.76 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same quarter last year, the company earned $0.71 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Sell-side analysts expect that Suncor Energy Inc. will post 3.53 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.86%.

Analyst Ratings Changes

Several research firms recently commented on SU. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Wolfe Research began coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, Scotiabank reduced their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Profile

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.