Atlas Capital Advisors LLC Reduces Position in Suncor Energy Inc. (NYSE:SU)

Atlas Capital Advisors LLC cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 38.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,232 shares of the oil and gas producer’s stock after selling 2,025 shares during the period. Atlas Capital Advisors LLC’s holdings in Suncor Energy were worth $119,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Sanders Capital LLC boosted its position in shares of Suncor Energy by 2.8% during the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after buying an additional 1,568,629 shares during the last quarter. Vanguard Group Inc. boosted its position in Suncor Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 50,534,957 shares of the oil and gas producer’s stock worth $1,619,140,000 after purchasing an additional 155,343 shares during the last quarter. TD Asset Management Inc boosted its position in Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock worth $1,032,453,000 after purchasing an additional 4,612,764 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after purchasing an additional 1,725,969 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in Suncor Energy by 0.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 20,530,994 shares of the oil and gas producer’s stock worth $657,772,000 after purchasing an additional 182,289 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $37.31 on Thursday. The stock has a market cap of $47.81 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 3.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a 50 day moving average price of $38.79 and a 200-day moving average price of $35.62. Suncor Energy Inc. has a one year low of $28.26 and a one year high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. Equities analysts expect that Suncor Energy Inc. will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were issued a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 35.19%.

Analyst Ratings Changes

Several brokerages have issued reports on SU. Morgan Stanley raised their target price on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. The Goldman Sachs Group raised their target price on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Securities raised their target price on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Raymond James raised Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $51.67.

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.