Freedom Investment Management Inc. Lowers Stake in Suncor Energy Inc. (NYSE:SU)

Freedom Investment Management Inc. cut its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,042 shares of the oil and gas producer’s stock after selling 2,466 shares during the quarter. Freedom Investment Management Inc.’s holdings in Suncor Energy were worth $555,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Transamerica Financial Advisors Inc. grew its stake in Suncor Energy by 2,311.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 1,895 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in shares of Suncor Energy by 33.8% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 78,044 shares of the oil and gas producer’s stock worth $2,881,000 after buying an additional 19,700 shares during the last quarter. DRW Securities LLC bought a new position in shares of Suncor Energy during the 3rd quarter worth approximately $1,151,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Suncor Energy by 3.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,284 shares of the oil and gas producer’s stock worth $1,340,000 after purchasing an additional 1,166 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Suncor Energy by 136.2% in the third quarter. Fisher Asset Management LLC now owns 1,891,781 shares of the oil and gas producer’s stock valued at $69,845,000 after buying an additional 1,090,988 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

NYSE:SU opened at $39.50 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 company has a 50 day moving average price of $39.12 and a 200-day moving average price of $38.86. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94. The firm has a market cap of $49.69 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a $0.4089 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.14%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is 35.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SU shares. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

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.