Scheer Rowlett & Associates Investment Management Ltd. Has $68.31 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Scheer Rowlett & Associates Investment Management Ltd. lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,850,781 shares of the oil and gas producer’s stock after selling 433,917 shares during the period. Suncor Energy makes up 4.8% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 7th largest position. Scheer Rowlett & Associates Investment Management Ltd. owned about 0.15% of Suncor Energy worth $68,306,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Aigen Investment Management LP bought a new stake in Suncor Energy during the third quarter valued at approximately $1,376,000. Assenagon Asset Management S.A. lifted its holdings in shares of Suncor Energy by 90.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Suncor Energy by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock worth $683,916,000 after acquiring an additional 1,031,542 shares in the last quarter. Mediolanum International Funds Ltd increased its stake in Suncor Energy by 22.5% in the third quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock valued at $9,245,000 after acquiring an additional 46,155 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Suncor Energy during the second quarter valued at about $2,448,000. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Trading Down 0.4 %

SU stock traded down $0.15 during midday trading on Wednesday, hitting $40.83. The company had a trading volume of 317,432 shares, compared to its average volume of 4,249,344. The stock has a market cap of $51.52 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 2.79 and a beta of 1.12. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $38.56 and its 200 day moving average price is $38.81.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.01%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 35.29%.

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.