Check Capital Management Inc. CA Reduces Stake in Suncor Energy Inc. (NYSE:SU)

Check Capital Management Inc. CA decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,701,665 shares of the oil and gas producer’s stock after selling 8,889 shares during the period. Suncor Energy accounts for 1.8% of Check Capital Management Inc. CA’s holdings, making the stock its 7th biggest position. Check Capital Management Inc. CA owned 0.14% of Suncor Energy worth $60,715,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank lifted its position in Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after acquiring an additional 333,440 shares during the last quarter. CIBC Asset Management Inc lifted its position in Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after acquiring an additional 180,533 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the last quarter. Principal Financial Group Inc. lifted its position in Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after acquiring an additional 1,296,142 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Suncor Energy by 7.6% during the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after acquiring an additional 413,797 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Trading Down 1.1 %

Shares of Suncor Energy stock opened at $39.53 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a fifty day moving average price of $37.73 and a 200 day moving average price of $38.60. Suncor Energy Inc. has a 1 year low of $31.46 and a 1 year high of $41.94. The stock has a market cap of $49.20 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12.

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 the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. Equities research analysts predict that Suncor Energy Inc. will post 3.25 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.04%. Suncor Energy’s dividend payout ratio is presently 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.