Korea Investment CORP Sells 252,140 Shares of Suncor Energy Inc. (NYSE:SU)

Korea Investment CORP lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,102,666 shares of the oil and gas producer’s stock after selling 252,140 shares during the period. Korea Investment CORP owned approximately 0.09% of Suncor Energy worth $39,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after buying an additional 3,225,543 shares during the period. Principal Financial Group Inc. lifted its position in shares of Suncor Energy by 39.9% during the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after acquiring an additional 2,767,043 shares during the period. Jupiter Asset Management Ltd. grew its holdings in shares of Suncor Energy by 2,061.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock worth $86,990,000 after purchasing an additional 2,325,503 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after purchasing an additional 1,842,791 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock worth $110,017,000 after purchasing an additional 1,573,726 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

Shares of SU opened at $38.66 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market cap of $47.82 billion, a PE ratio of 11.20, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 12-month low of $33.81 and a 12-month high of $41.95. The business has a 50-day simple moving average of $38.14 and a two-hundred day simple moving average of $38.15.

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

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.13%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

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.