Park Avenue Securities LLC Trims Stock Position in Suncor Energy Inc. (NYSE:SU)

Park Avenue Securities LLC trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 58.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,812 shares of the oil and gas producer’s stock after selling 28,206 shares during the period. Park Avenue Securities LLC’s holdings in Suncor Energy were worth $731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC raised its stake in Suncor Energy by 16.7% in the 1st quarter. CWM LLC now owns 3,820 shares of the oil and gas producer’s stock valued at $141,000 after purchasing an additional 547 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Suncor Energy during the first quarter valued at approximately $425,000. Adirondack Trust Co. boosted its position in Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 313 shares during the last quarter. Vanguard Group Inc. grew its stake in Suncor Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,534,957 shares of the oil and gas producer’s stock worth $1,619,140,000 after acquiring an additional 155,343 shares during the period. Finally, Wahed Invest LLC raised its holdings in Suncor Energy by 10.4% in the 4th quarter. Wahed Invest LLC now owns 10,431 shares of the oil and gas producer’s stock valued at $336,000 after acquiring an additional 980 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Suncor Energy Stock Performance

Suncor Energy stock opened at $38.00 on Friday. Suncor Energy Inc. has a 12-month low of $28.26 and a 12-month high of $41.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. The company has a market capitalization of $48.70 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 3.58 and a beta of 1.11. The firm’s fifty day moving average price is $38.77 and its 200 day moving average price is $35.63.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.15. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. On average, research analysts forecast that Suncor Energy Inc. will post 3.52 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.395 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.16%. Suncor Energy’s dividend payout ratio (DPR) is 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.