Jarislowsky Fraser Ltd Lowers stake in Suncor Energy (USA) (SU)

Suncor Energy (USA) (SU) : Jarislowsky Fraser Ltd reduced its stake in Suncor Energy (USA) by 0.11% during the most recent quarter end. The investment management company now holds a total of 19,626,394 shares of Suncor Energy (USA) which is valued at $517.4 Million after selling 21,854 shares in Suncor Energy (USA) , the firm said in a disclosure report filed with the SEC on May 12, 2016.Suncor Energy (USA) makes up approximately 3.62% of Jarislowsky Fraser Ltd’s portfolio.

Other Hedge Funds, Including , Hanson Doremus Investment Management boosted its stake in SU in the latest quarter, The investment management firm added 154 additional shares and now holds a total of 2,424 shares of Suncor Energy (USA) which is valued at $63,897. Suncor Energy (USA) makes up approx 0.03% of Hanson Doremus Investment Management’s portfolio.United Capital Financial Advisers reduced its stake in SU by selling 28,130 shares or 67.71% in the most recent quarter. The Hedge Fund company now holds 13,416 shares of SU which is valued at $353,646. Janney Montgomery Scott sold out all of its stake in SU during the most recent quarter. The investment firm sold 10,843 shares of SU which is valued $285,821. Icon Advisers Incco added SU to its portfolio by purchasing 532,300 company shares during the most recent quarter which is valued at $14 Million. Suncor Energy (USA) makes up approx 0.98% of Icon Advisers Incco’s portfolio. Mizuho Trust Banking Ltd. added SU to its portfolio by purchasing 2,807,379 company shares during the most recent quarter which is valued at $82.5 Million. Suncor Energy (USA) makes up approx 0.26% of Mizuho Trust Banking Ltd.’s portfolio.

Suncor Energy (USA) opened for trading at $26.2 and hit $26.49 on the upside on Friday, eventually ending the session at $26.3, with a gain of 0.50% or 0.13 points. The heightened volatility saw the trading volume jump to 26,62,657 shares. Company has a market cap of $41,609 M.

On the company’s financial health, Suncor Energy (USA) reported $-0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $0.13.Analysts expectations of $ 7885.07.During the same quarter in the previous year, the company posted $0.27 EPS.

Investors should note that on Apr 27, 2016, Suncor Energy (USA) announced a cash dividend of $0.2900. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jun 24, 2016.

Many Wall Street Analysts have commented on Suncor Energy (USA). Suncor Energy (USA) was Downgraded by Citigroup to ” Neutral” on Apr 20, 2016. Suncor Energy (USA) was Resumed by JP Morgan to “Neutral” on Mar 22, 2016.

Suncor Energy Inc. (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin Athabasca oil sands. The Company operates in three business segments: Oil Sands Exploration and Production and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations. Its Exploration and Production segment consists of offshore operations off the east coast of Canada and in the North Sea and onshore assets in North America Libya and Syria. The Company’s Refining and Marketing segment is engaged in Refining and Supply and Downstream Marketing. In addition the Company explores for acquires develops produces and markets crude oil and natural gas in Canada and internationally. The Company also transports and refines crude oil and markets petroleum and petrochemical products primarily in Canada.

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