Skip to Content

The Manufacturers Life Insurance Company has sold shares of Suncor Energy Inc. (NYSE:SU).

The Manufacturers Life Insurance Company has sold shares of Suncor Energy Inc. (NYSE:SU).

According to the most recent filing that the Manufacturers Life Insurance Company made with the SEC, the company decreased its holdings in Suncor Energy Inc. (NYSE: SU) (TSE: SU) by 13.3% during the third quarter of this year. Following the sale of 3,188,997 shares throughout the period, the fund’s total holdings of the oil and gas producer’s stock amounted to 20,724,062 shares at the end of the period. The Manufacturers Life Insurance Company held approximately 1.53% of Suncor Energy at the end of the most recent reporting period, with a value of $588,148,000.

Hedge funds and other types of institutional investors have been increasing the percentage of their holdings invested in the company over the past few months. As part of Howard Financial Services LTD Investment’s strategy, the company made a brand-new investment in Suncor Energy during the third quarter worth $29,000. During the second quarter of the fiscal year, The Ronald Blue Trust Inc. made a new investment in Suncor Energy worth 34 thousand dollars. Establishing a new holding in Suncor Energy required an investment of $35,000 from Corsicana & Company during the second quarter of the fiscal year. During the second quarter, Toth Financial Advisory Corporation’s holdings were bolstered by an increase of 400% in the number of shares of Suncor Energy. Because of the purchase of 800 additional shares during the most recent fiscal quarter, Toth Financial Advisory Corp. is now the proud owner of 1,000 shares of the oil and gas producer’s stock. These shares are valued at $35,000, thanks to the recent purchase. SeaCrest Wealth Management LLC increased the size of its portfolio by adding a new position during the second quarter. This new position consisted of working for Suncor Energy and cost $39,000. Institutional investors and hedge funds collectively own 58.04% of the total number of shares in the company, making up the majority of the shareholders.

Several analysts who have been working on the company in question have just recently published reports on it. The Royal Bank of Canada lowered their price target for Suncor Energy from 55.00 Canadian Dollars to 54.00 Canadian Dollars in a report disseminated on November 30. The price objective that Scotiabank has set for Suncor Energy shares has decreased from C$53.00 to C$50.00, as announced in a research note published on Tuesday. In a research note distributed on October 19, Jefferies Financial Group announced that the company would begin covering Suncor Energy shares. They advised their clients to “hold” the stock moving forward. On Friday, November 4, StockNews.com shifted the “buy” rating placed on Suncor Energy’s shares to a “hold” rating. Previously, those shares had received a “buy” rating.

Last but not least, in a research note published on Wednesday, January 9, 2019, National Bank Financial increased its price objective on Suncor Energy shares from Canadian Dollars 54.00 to Canadian Dollars 57.00. Three financial analysts have issued a recommendation to buy the company’s stock, while seven others have advised investors to maintain their current holdings in the company’s shares. According to reports on Bloomberg.com, the current consensus opinion regarding Suncor Energy shares is “Hold,” and analysts anticipate the stock will reach an average price of $51.33 per share.

When trading started on Thursday, Suncor Energy’s share price was 32.37 dollars. Although the debt-to-equity ratio, the current ratio, and the quick ratio all add up to 0.35, the current ratio is only 1.26, and the quick ratio is only 0.91. The company has a price-to-earnings ratio of 7.42, a PEG ratio of 0.56, and a beta value of 1.25, and its market capitalization is currently sitting at $43.30 billion. Suncor Energy Inc. reached a high of 42.72 dollars over the past year, while the company’s share price dropped to 25.27 dollars over the same period. The price of the company’s stock is currently trading at a moving average of $32.41 for the past fifty days and a moving average of $32.18 for the past two hundred days.

On November 2, Suncor Energy (NYSE: SU) (TSE: SU) disclosed the most recent results of its business operations, and the report was made available to the general public. Earnings per share for the qua

Tags

Leave a comment

Your email address will not be published. Required fields are marked *