44 Wealth Management LLC Has $707,000 Position in Suncor Energy Inc. (NYSE:SU)

44 Wealth Management LLC lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,827 shares of the oil and gas producer’s stock after selling 1,728 shares during the period. 44 Wealth Management LLC’s holdings in Suncor Energy were worth $707,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Oxbow Advisors LLC boosted its stake in shares of Suncor Energy by 3.4% during the 4th quarter. Oxbow Advisors LLC now owns 98,652 shares of the oil and gas producer’s stock valued at $3,520,000 after buying an additional 3,253 shares during the period. Arcadia Investment Management Corp MI lifted its stake in shares of Suncor Energy by 2.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 273,437 shares of the oil and gas producer’s stock valued at $9,756,000 after purchasing an additional 5,612 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Suncor Energy by 15.0% in the 4th quarter. Allianz Asset Management GmbH now owns 3,402,981 shares of the oil and gas producer’s stock valued at $121,406,000 after purchasing an additional 442,760 shares during the last quarter. First Bank & Trust lifted its stake in shares of Suncor Energy by 20.3% in the 4th quarter. First Bank & Trust now owns 11,067 shares of the oil and gas producer’s stock valued at $395,000 after purchasing an additional 1,868 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC lifted its stake in shares of Suncor Energy by 1,334.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 92,543 shares of the oil and gas producer’s stock valued at $3,302,000 after purchasing an additional 86,092 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SU. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Three 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. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Performance

NYSE:SU opened at $39.46 on Friday. The company has a market cap of $49.11 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.94 and a beta of 1.12. The firm’s 50-day moving average is $37.95 and its 200-day moving average is $38.66. Suncor Energy Inc. has a 52-week low of $33.26 and a 52-week high of $41.94. 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 results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating 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 research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. 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 4.04%. Suncor Energy’s payout ratio is 46.67%.

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.