Yaupon Capital Management LP Sells 174,946 Shares of Suncor Energy Inc. (NYSE:SU)

Yaupon Capital Management LP reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 779,280 shares of the oil and gas producer’s stock after selling 174,946 shares during the quarter. Suncor Energy comprises 1.6% of Yaupon Capital Management LP’s investment portfolio, making the stock its 20th biggest position. Yaupon Capital Management LP’s holdings in Suncor Energy were worth $28,771,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SU. Eastern Bank purchased a new position in shares of Suncor Energy in the 3rd quarter worth about $25,000. Summit Securities Group LLC bought a new position in Suncor Energy during the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. lifted its position in 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 purchasing an additional 328 shares during the last quarter. Ridgewood Investments LLC purchased a new position in shares of Suncor Energy in the second quarter worth $29,000. Finally, ORG Partners LLC bought a new stake in Suncor Energy during the 2nd quarter valued at $43,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of SU opened at $38.38 on Friday. The company has a market cap of $48.29 billion, a price-to-earnings ratio of 8.36, a P/E/G ratio of 2.54 and a beta of 1.11. The business’s fifty day simple moving average is $39.23 and its two-hundred day simple moving average is $38.85. 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 1.04 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 4.26%. Suncor Energy’s dividend payout ratio (DPR) is 36.82%.

Analysts Set New Price Targets

Several research firms recently issued reports on SU. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.40.

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.