Suncor Energy Inc. (NYSE:SU) Shares Sold by Fmr LLC

Fmr LLC trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,770,208 shares of the oil and gas producer’s stock after selling 1,202,300 shares during the quarter. Fmr LLC owned approximately 0.85% of Suncor Energy worth $397,537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Intech Investment Management LLC boosted its position in shares of Suncor Energy by 1,345.8% in the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after purchasing an additional 436,016 shares during the period. Aigen Investment Management LP acquired a new position in shares of Suncor Energy in the third quarter worth about $1,376,000. DRW Securities LLC acquired a new stake in shares of Suncor Energy during the third quarter valued at approximately $1,151,000. Assenagon Asset Management S.A. raised its holdings in shares of Suncor Energy by 90.9% during the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after acquiring an additional 3,951,287 shares during the period. Finally, Mediolanum International Funds Ltd lifted its position in shares of Suncor Energy by 22.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock valued at $9,245,000 after acquiring an additional 46,155 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $39.50 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94. The business’s 50-day moving average price is $39.12 and its two-hundred day moving average price is $38.86. The company has a market capitalization of $49.69 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.14%. Suncor Energy’s payout ratio is presently 35.29%.

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.