NBC Securities Inc. Cuts Position in Suncor Energy Inc. (NYSE:SU)

NBC Securities Inc. decreased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 37.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 763 shares of the oil and gas producer’s stock after selling 462 shares during the quarter. NBC Securities Inc.’s holdings in Suncor Energy were worth $28,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Johnson Financial Group Inc. acquired a new stake in shares of Suncor Energy in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new position in Suncor Energy in the 4th quarter valued at about $25,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Suncor Energy by 43.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 313 shares during the last quarter. Adirondack Trust Co. increased its stake in Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 313 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Suncor Energy during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SU shares. The Goldman Sachs Group lifted their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Morgan Stanley increased their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. Finally, TD Securities increased their price objective on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.67.

Suncor Energy Trading Up 3.3 %

Shares of Suncor Energy stock opened at $37.90 on Tuesday. The stock has a 50 day moving average of $38.78 and a 200 day moving average of $35.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The firm has a market capitalization of $48.57 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 3.52 and a beta of 1.11. Suncor Energy Inc. has a fifty-two week low of $28.26 and a fifty-two week high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $8.64 billion. As a group, research analysts predict that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be issued a $0.395 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.17%. Suncor Energy’s dividend payout ratio is currently 35.19%.

Suncor Energy Company 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.