Kornitzer Capital Management Inc. KS Decreases Position in Suncor Energy Inc. (NYSE:SU)

Kornitzer Capital Management Inc. KS lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,785 shares of the oil and gas producer’s stock after selling 3,250 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Suncor Energy were worth $7,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SU. Eastern Bank acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $25,000. HHM Wealth Advisors LLC grew its position in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at about $39,000. Stonebridge Financial Group LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at about $45,000. Finally, Waldron Private Wealth LLC purchased a new stake in shares of Suncor Energy in the third quarter valued at about $49,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 0.7 %

Shares of NYSE:SU opened at $39.84 on Wednesday. The stock has a market capitalization of $49.58 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 2.89 and a beta of 1.12. Suncor Energy Inc. has a 1-year low of $32.62 and a 1-year high of $41.94. The company’s fifty day moving average is $37.80 and its two-hundred day moving average is $38.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

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 for the quarter, topping 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%. Equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current 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 issued a $0.399 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.01%. Suncor Energy’s dividend payout ratio (DPR) is presently 46.67%.

Analysts Set New Price Targets

SU has been the topic of a number of research analyst reports. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.