Beutel Goodman & Co Ltd. Reduces Stock Position in Suncor Energy Inc. (NYSE:SU)

Beutel Goodman & Co Ltd. decreased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,803,703 shares of the oil and gas producer’s stock after selling 940,153 shares during the quarter. Suncor Energy comprises 1.7% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 27th largest position. Beutel Goodman & Co Ltd. owned 0.71% of Suncor Energy worth $314,085,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SU. Sanctuary Advisors LLC raised its holdings in shares of Suncor Energy by 32.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock worth $3,035,000 after acquiring an additional 20,081 shares during the period. Jones Financial Companies Lllp increased its position in Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock worth $2,421,000 after purchasing an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC purchased a new position in Suncor Energy during the fourth quarter worth about $300,000. J.W. Cole Advisors Inc. purchased a new position in Suncor Energy during the fourth quarter worth about $236,000. Finally, Bank of New York Mellon Corp boosted its holdings in Suncor Energy by 104.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after purchasing an additional 1,573,726 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $59.20.

Suncor Energy Stock Performance

NYSE SU opened at $38.36 on Friday. The company has a market cap of $47.45 billion, a P/E ratio of 11.12, a P/E/G ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 1-year low of $33.81 and a 1-year high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The stock has a 50-day moving average of $38.13 and a two-hundred day moving average of $38.16.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.16%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

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.