Keating Investment Counselors Inc. Lowers Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Keating Investment Counselors Inc. reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,391 shares of the oil and gas producer’s stock after selling 8,325 shares during the quarter. Suncor Energy accounts for 2.5% of Keating Investment Counselors Inc.’s portfolio, making the stock its 10th biggest holding. Keating Investment Counselors Inc.’s holdings in Suncor Energy were worth $7,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Johnson Financial Group Inc. bought a new position in Suncor Energy in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. bought a new position in Suncor Energy in the fourth quarter valued at about $25,000. Trust Co. of Vermont bought a new position in Suncor Energy in the second quarter valued at about $26,000. Summit Securities Group LLC bought a new position in Suncor Energy in the second quarter valued at about $27,000. Finally, Ridgewood Investments LLC bought a new position in Suncor Energy in the second quarter valued at about $29,000. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Raymond James raised Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Scotiabank reduced their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, Wolfe Research began coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.86.

Suncor Energy Stock Performance

NYSE:SU opened at $37.32 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The stock has a 50-day moving average price of $39.18 and a 200 day moving average price of $38.16. The stock has a market capitalization of $47.83 billion, a P/E ratio of 8.31, a P/E/G ratio of 2.61 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts forecast that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 34.97%.

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.