SYSTM Wealth Solutions LLC Lowers Stake in Suncor Energy Inc. (NYSE:SU)

SYSTM Wealth Solutions LLC cut its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 76.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,256 shares of the oil and gas producer’s stock after selling 10,520 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Suncor Energy were worth $124,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Suncor Energy by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after acquiring an additional 366,432 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Suncor Energy by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 656,635 shares of the oil and gas producer’s stock worth $25,018,000 after purchasing an additional 36,069 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Suncor Energy by 21.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 48,823 shares of the oil and gas producer’s stock valued at $1,860,000 after purchasing an additional 8,467 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its position in shares of Suncor Energy by 58.5% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 45,320 shares of the oil and gas producer’s stock worth $1,727,000 after purchasing an additional 16,731 shares in the last quarter. Finally, Barings LLC grew its stake in Suncor Energy by 21.4% during the 2nd quarter. Barings LLC now owns 1,523,300 shares of the oil and gas producer’s stock worth $58,045,000 after buying an additional 268,785 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Scotiabank dropped their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Wolfe Research began coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Price Performance

Shares of SU opened at $37.70 on Friday. The business’s 50-day moving average is $38.92 and its two-hundred day moving average is $38.31. The company has a market capitalization of $47.90 billion, a P/E ratio of 8.40, a P/E/G ratio of 2.47 and a beta of 1.13. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same period last year, the business earned $0.71 earnings per share. Suncor Energy’s quarterly revenue was up 10.1% on a year-over-year basis. Research analysts predict that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 36.08%.

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.