Empowered Funds LLC Lowers Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Empowered Funds LLC reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 26.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,626 shares of the oil and gas producer’s stock after selling 26,122 shares during the quarter. Empowered Funds LLC’s holdings in Suncor Energy were worth $2,644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SU. Eastern Bank purchased a new stake in shares of Suncor Energy in the third quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new stake in shares of Suncor Energy in the second quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at approximately $27,000. Richardson Financial Services Inc. boosted its stake in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 328 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at approximately $29,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SU shares. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Stock Performance

NYSE SU opened at $40.98 on Wednesday. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The stock has a market cap of $51.70 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. The business has a fifty day moving average of $38.56 and a 200-day moving average of $38.81. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.99%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s payout ratio is 35.29%.

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.