Lazard Asset Management LLC Cuts Holdings in Suncor Energy Inc. (NYSE:SU)

Lazard Asset Management LLC lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,982,398 shares of the oil and gas producer’s stock after selling 36,122 shares during the period. Lazard Asset Management LLC’s holdings in Suncor Energy were worth $73,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of Nova Scotia Trust Co. lifted its holdings in shares of Suncor Energy by 3.2% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 544,885 shares of the oil and gas producer’s stock worth $20,112,000 after acquiring an additional 16,852 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Suncor Energy by 4.1% in the 1st quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after acquiring an additional 868,475 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Suncor Energy by 2.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,003,591 shares of the oil and gas producer’s stock valued at $332,599,000 after buying an additional 248,318 shares during the last quarter. Toronto Dominion Bank raised its holdings in Suncor Energy by 59.7% during the 1st quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after buying an additional 6,580,260 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Suncor Energy by 7.5% during the 1st quarter. Advisors Asset Management Inc. now owns 44,721 shares of the oil and gas producer’s stock valued at $1,651,000 after buying an additional 3,105 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Up 0.1 %

Shares of NYSE:SU traded up $0.02 during midday trading on Friday, reaching $38.50. The company’s stock had a trading volume of 1,543,707 shares, compared to its average volume of 3,156,516. The firm has a 50 day moving average of $38.46 and a 200-day moving average of $36.61. The firm has a market capitalization of $49.34 billion, a P/E ratio of 8.57, a PEG ratio of 3.50 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. On average, research analysts anticipate that Suncor Energy Inc. will post 3.67 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.10%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio is currently 35.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SU shares. The Goldman Sachs Group upped their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. TD Securities upped their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Scotiabank lowered 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 report on Friday, July 12th. Finally, StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

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.