Suncor Energy Inc. (NYSE:SU) Stake Lowered by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC decreased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,426 shares of the oil and gas producer’s stock after selling 1,762 shares during the period. Thoroughbred Financial Services LLC’s holdings in Suncor Energy were worth $835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC lifted its stake in Suncor Energy by 62.1% in 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 stake in Suncor Energy in the 4th quarter valued at about $35,000. Lee Danner & Bass Inc. acquired a new position in Suncor Energy during the 4th quarter valued at about $36,000. Golden State Wealth Management LLC bought a new position in Suncor Energy in the 4th quarter worth about $39,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU opened at $33.19 on Friday. The company has a 50-day moving average of $37.94 and a two-hundred day moving average of $38.20. The stock has a market cap of $41.06 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 2.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a one year low of $32.78 and a one year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, equities research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Bank of America began coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating on the stock. Scotiabank raised Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average target price of $59.20.

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.