Erste Asset Management GmbH Decreases Position in Suncor Energy Inc. (NYSE:SU)

Erste Asset Management GmbH decreased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 72.3% during the 4th quarter, HoldingsChannel reports. The fund owned 4,800 shares of the oil and gas producer’s stock after selling 12,500 shares during the quarter. Erste Asset Management GmbH’s holdings in Suncor Energy were worth $169,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. HHM Wealth Advisors LLC lifted its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 325 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Suncor Energy during the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC acquired a new stake in Suncor Energy during the fourth quarter valued at approximately $45,000. UMB Bank n.a. raised its stake in Suncor Energy by 27.5% during the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 300 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in Suncor Energy by 50.2% during the fourth quarter. Private Trust Co. NA now owns 1,705 shares of the oil and gas producer’s stock valued at $61,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $36.63 on Friday. The stock has a fifty day moving average price of $38.29 and a two-hundred day moving average price of $38.24. 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 firm has a market cap of $45.32 billion, a P/E ratio of 10.62, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 1 year low of $33.81 and a 1 year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued 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 return on equity of 15.37% and a net margin of 11.80%. Research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 45.51%.

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.