Eaton Vance Management lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,306 shares of the oil and gas producer’s stock after selling 4,444 shares during the period. Eaton Vance Management’s holdings in Suncor Energy were worth $1,876,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new stake in Suncor Energy during the fourth quarter worth about $100,000. Cerebellum GP LLC bought a new stake in Suncor Energy during the fourth quarter worth about $134,000. Avestar Capital LLC bought a new stake in Suncor Energy during the fourth quarter worth about $148,000. Icon Wealth Partners LLC bought a new stake in Suncor Energy during the fourth quarter worth about $181,000. Finally, Fishman Jay A Ltd. MI bought a new stake in Suncor Energy during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 65.42% of the company’s stock.
Shares of Suncor Energy stock traded down $0.10 on Thursday, hitting $39.84. The stock had a trading volume of 2,529,540 shares, compared to its average volume of 3,442,728. Suncor Energy Inc. has a twelve month low of $27.96 and a twelve month high of $41.81. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $67.79 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.69 and a beta of 0.82.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 25th. Stockholders of record on Monday, June 4th will be given a $0.2797 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, June 1st. Suncor Energy’s payout ratio is 73.51%.
Several research firms have issued reports on SU. AltaCorp Capital lowered Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. Zacks Investment Research lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Morgan Stanley upped their price objective on Suncor Energy from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, May 23rd. ValuEngine upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 6th. Finally, Bank of America began coverage on Suncor Energy in a research note on Thursday, April 5th. They issued a “buy” rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and an average price target of $50.00.
About Suncor Energy
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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