NWQ Investment Management Company LLC Cuts Stake in Suncor Energy Inc. (SU)

NWQ Investment Management Company LLC lessened its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,582,426 shares of the oil and gas producer’s stock after selling 351,730 shares during the quarter. NWQ Investment Management Company LLC owned about 0.10% of Suncor Energy worth $55,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SU. Spark Investment Management LLC bought a new stake in Suncor Energy in the second quarter valued at about $1,549,000. Sei Investments Co. increased its holdings in Suncor Energy by 46.8% in the second quarter. Sei Investments Co. now owns 50,985 shares of the oil and gas producer’s stock valued at $1,489,000 after purchasing an additional 16,251 shares during the last quarter. Cigna Investments Inc. New bought a new stake in Suncor Energy in the second quarter valued at about $731,000. Trexquant Investment LP bought a new stake in Suncor Energy in the second quarter valued at about $1,294,000. Finally, Canada Pension Plan Investment Board increased its holdings in Suncor Energy by 101.1% in the second quarter. Canada Pension Plan Investment Board now owns 224,455 shares of the oil and gas producer’s stock valued at $6,549,000 after purchasing an additional 112,855 shares during the last quarter. 65.61% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on the company. BidaskClub downgraded Suncor Energy from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Canaccord Genuity restated a “buy” rating and issued a $51.00 price target on shares of Suncor Energy in a report on Monday, October 16th. Edward Jones upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, November 20th. Zacks Investment Research downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Finally, TD Securities downgraded Suncor Energy from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Suncor Energy presently has an average rating of “Buy” and a consensus price target of $43.14.

Shares of Suncor Energy Inc. (SU) traded up $0.15 during midday trading on Wednesday, reaching $34.60. The company had a trading volume of 1,817,200 shares, compared to its average volume of 3,241,226. Suncor Energy Inc. has a 1 year low of $27.96 and a 1 year high of $36.71. The company has a quick ratio of 0.62, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $57,009.86, a PE ratio of 29.70, a PEG ratio of 3.21 and a beta of 0.85.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.26 by $0.15. Suncor Energy had a return on equity of 5.68% and a net margin of 11.63%. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.80 billion. sell-side analysts forecast that Suncor Energy Inc. will post 1.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be given a dividend of $0.251 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Suncor Energy’s previous quarterly dividend of $0.19. This represents a $1.00 annualized dividend and a yield of 2.90%. Suncor Energy’s dividend payout ratio is 60.84%.

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Suncor Energy Company Profile

Suncor Energy Inc is a Canada-based 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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