Swiss National Bank Reduces Stock Position in Suncor Energy Inc. (NYSE:SU)

Swiss National Bank reduced its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,858,992 shares of the oil and gas producer’s stock after selling 3,600 shares during the period. Swiss National Bank’s holdings in Suncor Energy were worth $142,665,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on SU. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Trading Up 0.1 %

Shares of SU stock opened at $40.48 on Monday. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $38.40 and its 200 day moving average is $38.77. The stock has a market capitalization of $51.08 billion, a P/E ratio of 8.82, a P/E/G ratio of 2.87 and a beta of 1.12.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.4089 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a yield of 4.04%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is currently 36.60%.

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.