Verdence Capital Advisors LLC Sells 3,690 Shares of Suncor Energy Inc. (NYSE:SU)

Verdence Capital Advisors LLC decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,504 shares of the oil and gas producer’s stock after selling 3,690 shares during the period. Verdence Capital Advisors LLC’s holdings in Suncor Energy were worth $732,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its stake in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 325 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Suncor Energy in the fourth quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new position in Suncor Energy in the fourth quarter worth approximately $45,000. UMB Bank n.a. grew its stake in Suncor Energy by 27.5% in the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 300 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in Suncor Energy by 50.2% in the fourth quarter. Private Trust Co. NA now owns 1,705 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 570 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Bank of America assumed coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating on the stock. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

Shares of SU opened at $34.81 on Friday. Suncor Energy Inc. has a 12 month low of $33.81 and a 12 month high of $41.94. The stock has a fifty day moving average price of $38.28 and a 200-day moving average price of $38.46. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market cap of $43.21 billion, a PE ratio of 10.09, a P/E/G ratio of 2.94 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.59%. Suncor Energy’s dividend payout ratio is presently 45.22%.

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.