Pekin Hardy Strauss Inc. Cuts Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Pekin Hardy Strauss Inc. trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,970 shares of the oil and gas producer’s stock after selling 29,899 shares during the period. Suncor Energy comprises approximately 1.0% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 20th largest position. Pekin Hardy Strauss Inc.’s holdings in Suncor Energy were worth $7,428,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sanders Capital LLC boosted its holdings in shares of Suncor Energy by 2.8% during the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after purchasing an additional 1,568,629 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Suncor Energy by 1.4% during the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock worth $1,890,768,000 after purchasing an additional 691,497 shares during the period. TD Asset Management Inc boosted its holdings in shares of Suncor Energy by 16.8% during the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock worth $1,032,453,000 after purchasing an additional 4,612,764 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Suncor Energy by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after purchasing an additional 366,432 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Suncor Energy by 4.1% during the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after purchasing an additional 868,475 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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 raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Scotiabank decreased their price target on shares of 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. Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.86.

Suncor Energy Price Performance

Shares of NYSE SU opened at $36.72 on Tuesday. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a 50 day simple moving average of $38.95 and a two-hundred day simple moving average of $38.31. The company has a market capitalization of $47.06 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 2.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46.

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

Suncor Energy Announces Dividend

The company also recently declared 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 4.30%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 35.86%.

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.