Arcadia Investment Management Corp MI Sells 9,855 Shares of Suncor Energy Inc. (NYSE:SU)

Arcadia Investment Management Corp MI cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 267,825 shares of the oil and gas producer’s stock after selling 9,855 shares during the quarter. Suncor Energy makes up 1.6% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 22nd largest holding. Arcadia Investment Management Corp MI’s holdings in Suncor Energy were worth $9,888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SU. Eastern Bank bought a new position in shares of Suncor Energy during the third quarter valued at $25,000. Trust Co. of Vermont acquired a new stake in shares of Suncor Energy in the second quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at $27,000. Richardson Financial Services Inc. increased its stake in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 328 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at $29,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of SU stock opened at $37.59 on Friday. The stock has a 50-day moving average price of $38.54 and a 200 day moving average price of $38.74. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The firm has a market cap of $47.43 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 2.68 and a beta of 1.12. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter last year, the business earned $0.71 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. Research analysts expect that Suncor Energy Inc. will post 3.53 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 37.59%.

Analyst Upgrades and Downgrades

SU has been the subject of a number of research reports. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Scotiabank lowered their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Wolfe Research started coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

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.