Arrowstreet Capital Limited Partnership Trims Position in Suncor Energy Inc. (NYSE:SU)

Arrowstreet Capital Limited Partnership lowered its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 24.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,959,444 shares of the oil and gas producer’s stock after selling 2,953,965 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.72% of Suncor Energy worth $319,506,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares during the period. Principal Financial Group Inc. increased its stake in shares of Suncor Energy by 39.9% during the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after acquiring an additional 2,767,043 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Suncor Energy by 2,061.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock worth $86,990,000 after acquiring an additional 2,325,503 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Suncor Energy by 97.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after acquiring an additional 1,842,791 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after purchasing an additional 1,573,726 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Down 0.7 %

NYSE SU opened at $38.36 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The business has a 50 day moving average price of $38.13 and a two-hundred day moving average price of $38.17. The stock has a market cap of $47.45 billion, a PE ratio of 11.12, 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 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%. As a group, sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were paid a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

Analyst Upgrades and Downgrades

SU has been the topic of a number of research analyst reports. 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 Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, March 22nd. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average 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.