Suncor Energy Inc. (NYSE:SU) Position Trimmed by River Road Asset Management LLC

River Road Asset Management LLC trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 743,033 shares of the oil and gas producer’s stock after selling 57,838 shares during the quarter. River Road Asset Management LLC owned 0.06% of Suncor Energy worth $23,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Pinnacle Associates Ltd. increased its position in Suncor Energy by 0.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 47,669 shares of the oil and gas producer’s stock worth $1,639,000 after purchasing an additional 300 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Suncor Energy by 19.0% in the third quarter. Hexagon Capital Partners LLC now owns 1,931 shares of the oil and gas producer’s stock worth $66,000 after buying an additional 308 shares during the last quarter. Private Trust Co. NA increased its holdings in Suncor Energy by 38.4% in the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock worth $42,000 after buying an additional 339 shares during the last quarter. Gradient Investments LLC raised its position in Suncor Energy by 1.0% during the third quarter. Gradient Investments LLC now owns 33,205 shares of the oil and gas producer’s stock valued at $1,142,000 after acquiring an additional 345 shares in the last quarter. Finally, First Financial Corp IN lifted its stake in Suncor Energy by 3.3% in the fourth quarter. First Financial Corp IN now owns 12,422 shares of the oil and gas producer’s stock valued at $398,000 after acquiring an additional 393 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SU shares. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $37.78 on Thursday. Suncor Energy Inc. has a 1-year low of $27.59 and a 1-year high of $39.32. The firm has a fifty day simple moving average of $35.50 and a 200-day simple moving average of $33.61. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $48.63 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 3.31 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. The firm had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter in the previous year, the business earned $1.33 EPS. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.78 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were issued a $0.406 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.62 dividend on an annualized basis and a yield of 4.30%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio (DPR) is 34.26%.

About Suncor Energy

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.