Suncor Energy Inc. (NYSE:SU) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 180,460 shares of the oil and gas producer’s stock after selling 14,510 shares during the period. Suncor Energy comprises about 0.8% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 29th largest holding. Pekin Hardy Strauss Inc.’s holdings in Suncor Energy were worth $6,663,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Cerity Partners LLC lifted its position in shares of Suncor Energy by 77.9% in the 3rd quarter. Cerity Partners LLC now owns 45,537 shares of the oil and gas producer’s stock valued at $1,681,000 after acquiring an additional 19,939 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Suncor Energy by 51.8% in the 3rd quarter. Citigroup Inc. now owns 229,983 shares of the oil and gas producer’s stock valued at $8,498,000 after purchasing an additional 78,482 shares during the period. Raymond James Trust N.A. lifted its position in shares of Suncor Energy by 4.0% in the third quarter. Raymond James Trust N.A. now owns 22,508 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 867 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Suncor Energy by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,357,656 shares of the oil and gas producer’s stock worth $161,006,000 after purchasing an additional 169,916 shares during the period. Finally, Banco Santander S.A. purchased a new position in Suncor Energy during the third quarter valued at approximately $750,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

SU opened at $41.53 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $38.86 and its two-hundred day moving average price is $38.86. The firm has a market capitalization of $52.25 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 2.72 and a beta of 1.12. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.94%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 35.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SU. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

About Suncor Energy

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.