SVB Wealth LLC Sells 16,282 Shares of Suncor Energy Inc. (NYSE:SU)

SVB Wealth LLC trimmed its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 45.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,394 shares of the oil and gas producer’s stock after selling 16,282 shares during the quarter. SVB Wealth LLC’s holdings in Suncor Energy were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SU. Pinnacle Associates Ltd. increased its holdings in Suncor Energy by 0.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 47,669 shares of the oil and gas producer’s stock valued at $1,639,000 after buying an additional 300 shares during the period. Hexagon Capital Partners LLC raised its position in Suncor Energy by 19.0% in the third quarter. Hexagon Capital Partners LLC now owns 1,931 shares of the oil and gas producer’s stock worth $66,000 after purchasing an additional 308 shares in the last quarter. Private Trust Co. NA boosted its holdings in Suncor Energy by 38.4% during the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 339 shares in the last quarter. Gradient Investments LLC boosted its holdings in Suncor Energy by 1.0% during the third quarter. Gradient Investments LLC now owns 33,205 shares of the oil and gas producer’s stock valued at $1,142,000 after purchasing an additional 345 shares in the last quarter. Finally, First Financial Corp IN grew its stake in shares of Suncor Energy by 3.3% in the 4th quarter. First Financial Corp IN now owns 12,422 shares of the oil and gas producer’s stock valued at $398,000 after purchasing an additional 393 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU stock opened at $38.54 on Friday. Suncor Energy Inc. has a 52 week low of $27.59 and a 52 week high of $39.32. The stock has a market capitalization of $49.61 billion, a PE ratio of 8.20, a PEG ratio of 3.40 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The stock’s fifty day moving average is $35.75 and its 200-day moving average is $33.67.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. The firm had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter in the prior year, the firm earned $1.33 EPS. Equities research analysts expect that Suncor Energy Inc. will post 3.78 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a $0.406 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.21%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio (DPR) is currently 34.26%.

Analyst Upgrades and Downgrades

SU has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

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.