Kornitzer Capital Management Inc. KS Sells 4,575 Shares of Suncor Energy Inc. (NYSE:SU)

Kornitzer Capital Management Inc. KS lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 203,035 shares of the oil and gas producer’s stock after selling 4,575 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Suncor Energy were worth $7,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SU. Cullen Investment Group LTD. boosted its stake in Suncor Energy by 0.8% during the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after purchasing an additional 262 shares during the period. First Horizon Advisors Inc. raised its holdings in Suncor Energy by 6.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after acquiring an additional 281 shares in the last quarter. Blue Trust Inc. raised its holdings in Suncor Energy by 11.0% in the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock valued at $121,000 after acquiring an additional 325 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Suncor Energy by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,730 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 377 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Scotiabank dropped their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wolfe Research initiated coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.83.

Suncor Energy Stock Up 1.0 %

Shares of NYSE:SU opened at $39.59 on Friday. The company has a 50 day moving average price of $38.39 and a two-hundred day moving average price of $38.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The company has a market capitalization of $49.95 billion, a PE ratio of 9.19, a PEG ratio of 2.71 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.

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 (EPS) for the quarter, topping 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 the consensus estimate of $9.30 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts forecast that Suncor Energy Inc. will post 3.53 earnings per share for the current year.

Suncor Energy Company 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.