Wasatch Advisors LP Sells 16,600 Shares of Suncor Energy Inc. (NYSE:SU)

Wasatch Advisors LP lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 78,500 shares of the oil and gas producer’s stock after selling 16,600 shares during the period. Wasatch Advisors LP’s holdings in Suncor Energy were worth $2,897,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SU. Eastern Bank bought a new stake in Suncor Energy during the third quarter valued at about $25,000. Trust Co. of Vermont bought a new position in shares of Suncor Energy in the second quarter worth about $26,000. Summit Securities Group LLC bought a new position in shares of Suncor Energy in the second quarter worth about $27,000. Richardson Financial Services Inc. boosted its stake in shares of 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 worth $28,000 after acquiring an additional 328 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Suncor Energy in the second quarter worth about $29,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU opened at $39.48 on Monday. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. The stock has a fifty day moving average price of $39.12 and a 200-day moving average price of $38.86. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The firm has a market cap of $49.67 billion, a PE ratio of 8.60, a P/E/G ratio of 2.61 and a beta of 1.12.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 35.29%.

Analyst Upgrades and Downgrades

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

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.