Versor Investments LP Lowers Stock Position in Suncor Energy Inc. (NYSE:SU)

Versor Investments LP cut its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 28.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,100 shares of the oil and gas producer’s stock after selling 10,100 shares during the period. Versor Investments LP’s holdings in Suncor Energy were worth $895,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SU. HHM Wealth Advisors LLC boosted its holdings in Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 325 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Suncor Energy during the fourth quarter worth $39,000. Stonebridge Financial Group LLC purchased a new stake in Suncor Energy during the fourth quarter worth $45,000. UMB Bank n.a. boosted its holdings in Suncor Energy by 27.5% during the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 300 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its holdings in Suncor Energy by 2,311.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 1,895 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on SU. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. 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. Bank of America began coverage on shares of Suncor Energy in a research report on Wednesday. They set a “neutral” rating for the company. 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. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Price Performance

Shares of NYSE SU opened at $38.23 on Friday. The firm has a 50-day simple moving average of $38.20 and a 200-day simple moving average of $38.65. The stock has a market capitalization of $47.58 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 52 week low of $33.26 and a 52 week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) 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 analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.17%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 45.22%.

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.