State Street Corp Cuts Stock Position in Suncor Energy Inc. (NYSE:SU)

State Street Corp decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,693 shares of the oil and gas producer’s stock after selling 290 shares during the quarter. State Street Corp’s holdings in Suncor Energy were worth $1,613,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in Suncor Energy by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after buying an additional 1,209,073 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Suncor Energy by 1.6% in the second 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 buying an additional 366,432 shares during the period. Toronto Dominion Bank raised its position in shares of Suncor Energy by 3.4% during the 2nd quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock valued at $693,906,000 after purchasing an additional 605,833 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after buying an additional 180,533 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after buying an additional 1,829,936 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Up 1.1 %

SU opened at $35.68 on Thursday. The company has a market cap of $44.89 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. The company has a 50-day moving average price of $38.09 and a 200 day moving average price of $38.44. Suncor Energy Inc. has a twelve month low of $31.03 and a twelve month high of $41.94. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were paid a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.58%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is 36.60%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Friday, December 20th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.