Chevy Chase Trust Holdings Inc. Has $591,000 Position in Suncor Energy Inc. (NYSE:SU)

Chevy Chase Trust Holdings Inc. lowered its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,255 shares of the oil and gas producer’s stock after selling 1,620 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Suncor Energy were worth $591,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Univest Corp of Pennsylvania boosted its position in Suncor Energy by 7.3% in the first quarter. Univest Corp of Pennsylvania now owns 89,066 shares of the oil and gas producer’s stock worth $2,739,000 after buying an additional 6,067 shares during the period. Nexus Investment Management Inc. boosted its position in shares of Suncor Energy by 3.2% in the first quarter. Nexus Investment Management Inc. now owns 476,747 shares of the oil and gas producer’s stock worth $14,613,000 after buying an additional 14,632 shares during the last quarter. Addenda Capital Inc. boosted its position in shares of Suncor Energy by 4.7% in the first quarter. Addenda Capital Inc. now owns 1,593,270 shares of the oil and gas producer’s stock worth $48,777,000 after buying an additional 72,040 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Suncor Energy by 3.4% in the first quarter. Gulf International Bank UK Ltd now owns 520,602 shares of the oil and gas producer’s stock worth $15,960,000 after buying an additional 17,250 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Suncor Energy by 52.6% in the first quarter. Creative Planning now owns 30,188 shares of the oil and gas producer’s stock worth $928,000 after buying an additional 10,400 shares during the last quarter. 65.59% of the stock is owned by institutional investors.

Shares of Suncor Energy Inc. (NYSE:SU) traded up 0.64% during trading on Friday, reaching $31.42. The company’s stock had a trading volume of 1,786,685 shares. The firm’s 50-day moving average price is $30.98 and its 200-day moving average price is $30.93. Suncor Energy Inc. has a one year low of $25.70 and a one year high of $33.79. The company has a market capitalization of $52.14 billion, a price-to-earnings ratio of 24.68 and a beta of 0.82.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.2552 per share. The ex-dividend date of this dividend is Thursday, August 31st. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a yield of 3.25%. Suncor Energy ‘s payout ratio is currently 77.87%.

Suncor Energy announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 26th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas producer to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

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A number of equities analysts have issued reports on the company. BidaskClub cut Suncor Energy from a “hold” rating to a “sell” rating in a report on Friday. Piper Jaffray Companies reduced their price target on Suncor Energy from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, July 3rd. National Bank Financial began coverage on Suncor Energy in a research report on Tuesday, June 27th. They issued an “outperform” rating on the stock. Scotiabank lowered Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 9th. Finally, AltaCorp Capital lowered Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $42.10.

Suncor Energy Company Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Institutional Ownership by Quarter for Suncor Energy  (NYSE:SU)

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