Invesco Ltd. Trims Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Invesco Ltd. cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 27,773,793 shares of the oil and gas producer’s stock after selling 1,879,203 shares during the period. Invesco Ltd.’s holdings in Suncor Energy were worth $990,969,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Suncor Energy by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock worth $1,892,526,000 after buying an additional 323,714 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Suncor Energy by 0.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after buying an additional 169,700 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Suncor Energy by 0.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock worth $831,631,000 after acquiring an additional 209,447 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Suncor Energy by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after buying an additional 333,440 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Suncor Energy by 4.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer’s stock worth $361,227,000 after acquiring an additional 437,252 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SU shares. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, April 1st. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Finally, Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Trading Down 9.8 %

Shares of Suncor Energy stock opened at $33.19 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $37.94 and its 200-day moving average is $38.21. Suncor Energy Inc. has a 12-month low of $32.20 and a 12-month high of $41.95. The stock has a market cap of $41.06 billion, a P/E ratio of 9.62, a P/E/G ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.81%. Suncor Energy’s payout ratio is 45.51%.

About Suncor Energy

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.