Suncor Energy Inc. (NYSE:SU) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,132,812 shares of the oil and gas producer’s stock after purchasing an additional 437,252 shares during the quarter. Suncor Energy accounts for 1.6% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 11th largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Suncor Energy were worth $361,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SU. Toronto Dominion Bank increased its stake in shares of Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after buying an additional 333,440 shares during the period. CIBC Asset Management Inc grew its stake in Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after buying an additional 180,533 shares during the last quarter. Principal Financial Group Inc. increased its position in Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after buying an additional 2,767,043 shares during the period. Geode Capital Management LLC lifted its stake in Suncor Energy by 7.6% in the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after buying an additional 413,797 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Suncor Energy by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock valued at $159,030,000 after acquiring an additional 99,669 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on SU shares. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Finally, Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Down 0.8 %

SU opened at $35.39 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company has a market cap of $43.78 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a one year low of $33.81 and a one year high of $41.95. The business’s fifty day moving average is $38.29 and its two-hundred day moving average is $38.33.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

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.