Suncor Energy Inc. (NYSE:SU) Stock Position Trimmed by Resource Management LLC

Resource Management LLC lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 268,402 shares of the oil and gas producer’s stock after selling 17,771 shares during the period. Suncor Energy comprises 1.4% of Resource Management LLC’s holdings, making the stock its 10th largest position. Resource Management LLC’s holdings in Suncor Energy were worth $8,363,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC boosted its position in Suncor Energy by 6.8% in the first quarter. Princeton Global Asset Management LLC now owns 67,179 shares of the oil and gas producer’s stock worth $2,178,000 after purchasing an additional 4,277 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in shares of Suncor Energy during the 1st quarter valued at $58,000. Ellis Investment Partners LLC purchased a new position in shares of Suncor Energy during the 1st quarter valued at $428,000. Perkins Coie Trust Co lifted its position in shares of Suncor Energy by 24.4% during the 2nd quarter. Perkins Coie Trust Co now owns 3,160 shares of the oil and gas producer’s stock valued at $98,000 after buying an additional 620 shares during the last quarter. Finally, Guinness Asset Management Ltd lifted its position in shares of Suncor Energy by 22.2% during the 1st quarter. Guinness Asset Management Ltd now owns 360,462 shares of the oil and gas producer’s stock valued at $11,686,000 after buying an additional 65,500 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:SU traded up $0.09 during midday trading on Friday, reaching $28.72. 1,399,221 shares of the company traded hands, compared to its average volume of 3,758,024. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. Suncor Energy Inc. has a 12 month low of $25.81 and a 12 month high of $42.16. The company has a market capitalization of $45.26 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The business’s fifty day moving average price is $30.71.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.321 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.47%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, September 3rd. Suncor Energy’s payout ratio is presently 62.00%.

A number of research analysts have recently commented on SU shares. GMP Securities reaffirmed a “hold” rating and set a $48.00 price target on shares of Suncor Energy in a research report on Tuesday, May 7th. ValuEngine cut Suncor Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. BMO Capital Markets reaffirmed a “buy” rating on shares of Suncor Energy in a research report on Monday, June 24th. Raymond James reaffirmed a “buy” rating on shares of Suncor Energy in a research report on Thursday, May 2nd. Finally, Mizuho reaffirmed an “average” rating and set a $52.00 price target on shares of Suncor Energy in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Suncor Energy has an average rating of “Buy” and a consensus price target of $47.48.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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