Jarislowsky Fraser Ltd decreased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,839,444 shares of the oil and gas producer’s stock after selling 59,638 shares during the quarter. Jarislowsky Fraser Ltd owned about 0.11% of Suncor Energy worth $64,321,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Suncor Energy by 4.9% in the second quarter. Vanguard Group Inc. now owns 40,423,181 shares of the oil and gas producer’s stock valued at $1,180,357,000 after purchasing an additional 1,892,375 shares during the period. Dodge & Cox raised its position in Suncor Energy by 7.6% in the second quarter. Dodge & Cox now owns 36,821,800 shares of the oil and gas producer’s stock valued at $1,075,197,000 after purchasing an additional 2,587,900 shares during the period. BlackRock Inc. raised its position in Suncor Energy by 3.6% in the second quarter. BlackRock Inc. now owns 24,405,196 shares of the oil and gas producer’s stock valued at $712,632,000 after purchasing an additional 848,549 shares during the period. CIBC Asset Management Inc raised its position in Suncor Energy by 4.8% in the second quarter. CIBC Asset Management Inc now owns 15,871,361 shares of the oil and gas producer’s stock valued at $463,195,000 after purchasing an additional 725,934 shares during the period. Finally, William Blair Investment Management LLC raised its position in Suncor Energy by 7.4% in the second quarter. William Blair Investment Management LLC now owns 9,447,923 shares of the oil and gas producer’s stock valued at $275,648,000 after purchasing an additional 653,754 shares during the period. Hedge funds and other institutional investors own 63.80% of the company’s stock.
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Suncor Energy Inc. (SU) traded up $0.29 during trading on Monday, hitting $36.42. The stock had a trading volume of 3,287,200 shares, compared to its average volume of 3,252,746. Suncor Energy Inc. has a fifty-two week low of $27.96 and a fifty-two week high of $36.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.62. The stock has a market cap of $60,650.00, a P/E ratio of 31.40, a P/E/G ratio of 3.34 and a beta of 0.85.
Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, October 25th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.15. Suncor Energy had a return on equity of 5.68% and a net margin of 11.63%. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.80 billion. sell-side analysts forecast that Suncor Energy Inc. will post 1.28 earnings per share for the current year.
A number of equities research analysts have commented on SU shares. Canaccord Genuity restated a “buy” rating and issued a $51.00 target price on shares of Suncor Energy in a research report on Thursday, October 26th. Citigroup Inc. reiterated a “buy” rating on shares of Suncor Energy in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Wednesday, October 11th. BidaskClub upgraded Suncor Energy from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Wolfe Research upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $43.86.
Suncor Energy Profile
Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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