Pictet Asset Management Ltd. lessened its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.7% in the second quarter, HoldingsChannel reports. The fund owned 591,457 shares of the oil and gas producer’s stock after selling 16,700 shares during the period. Pictet Asset Management Ltd.’s holdings in Suncor Energy were worth $18,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of SU. Cornerstone Advisors Inc. boosted its stake in shares of Suncor Energy by 121.7% in the first quarter. Cornerstone Advisors Inc. now owns 1,095 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 601 shares during the period. Zions Bancorporation N.A. bought a new stake in shares of Suncor Energy in the first quarter valued at approximately $38,000. Trustcore Financial Services LLC bought a new stake in shares of Suncor Energy in the first quarter valued at approximately $39,000. Thomas J. Herzfeld Advisors Inc. boosted its stake in shares of Suncor Energy by 39.9% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,468 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 419 shares during the period. Finally, Resources Investment Advisors LLC. boosted its stake in shares of Suncor Energy by 33.3% in the second quarter. Resources Investment Advisors LLC. now owns 1,600 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 400 shares during the period. Institutional investors own 65.34% of the company’s stock.

Several equities research analysts recently issued reports on SU shares. Citigroup cut their price target on Suncor Energy from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. ValuEngine upgraded Suncor Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $48.23.

SU traded down $0.21 during trading on Friday, hitting $30.47. 81,335 shares of the stock traded hands, compared to its average volume of 3,129,008. Suncor Energy Inc. has a twelve month low of $25.81 and a twelve month high of $40.08. The company has a market cap of $47.76 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.70 and a beta of 1.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.63. The business has a 50 day moving average price of $28.82 and a 200 day moving average price of $31.45.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.09). Suncor Energy had a net margin of 14.55% and a return on equity of 10.20%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $8.15 billion. On average, equities research analysts predict that Suncor Energy Inc. will post 2.41 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.321 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Tuesday, September 3rd. Suncor Energy’s payout ratio is currently 63.00%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

See Also: Swap

Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU) (TSE:SU).

Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.