Nexus Investment Management Lowers stake in Suncor Energy (USA) (SU)

Suncor Energy (USA) (SU) : Nexus Investment Management reduced its stake in Suncor Energy (USA) by 3.02% during the most recent quarter end. The investment management company now holds a total of 449,932 shares of Suncor Energy (USA) which is valued at $12,526,107 after selling 13,992 shares in Suncor Energy (USA) , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.Suncor Energy (USA) makes up approximately 2.35% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , First American Trust Fsb sold out all of its stake in SU during the most recent quarter. The investment firm sold 16,700 shares of SU which is valued $464,928.

Suncor Energy (USA) closed down -0.15 points or -0.54% at $27.69 with 23,31,886 shares getting traded on Monday. Post opening the session at $27.89, the shares hit an intraday low of $27.63 and an intraday high of $28.01 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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 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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