Invesco Ltd. Sells 1,879,203 Shares of Suncor Energy Inc. (NYSE:SU)

Invesco Ltd. lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,773,793 shares of the oil and gas producer’s stock after selling 1,879,203 shares during the period. Invesco Ltd. owned about 2.23% of Suncor Energy worth $990,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SU. Vanguard Group Inc. raised its position in shares of Suncor Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock valued at $1,892,526,000 after purchasing an additional 323,714 shares during the period. Artisan Partners Limited Partnership boosted its position in Suncor Energy by 0.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock valued at $865,885,000 after buying an additional 169,700 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Suncor Energy by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock valued at $831,631,000 after buying an additional 209,447 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Suncor Energy by 1.8% in 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. increased its position in shares of Suncor Energy by 4.5% during the fourth 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 buying an additional 437,252 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

NYSE:SU opened at $33.19 on Monday. Suncor Energy Inc. has a one year low of $32.20 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a 50 day moving average price of $37.94 and a 200 day moving average price of $38.21. The stock has a market cap of $41.06 billion, a PE 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 released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (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 expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Bank of America started coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Four 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 company. According to data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.

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.