Burgundy Asset Management Ltd. Lowers stake in Suncor Energy (USA) (SU)

Suncor Energy (USA) (SU) : Burgundy Asset Management Ltd. reduced its stake in Suncor Energy (USA) by 1.63% during the most recent quarter end. The investment management company now holds a total of 7,488,313 shares of Suncor Energy (USA) which is valued at $210,496,478 after selling 124,100 shares in Suncor Energy (USA) , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Suncor Energy (USA) makes up approximately 2.02% of Burgundy Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , Baird Financial Group reduced its stake in SU by selling 5,135 shares or 9.18% in the most recent quarter. The Hedge Fund company now holds 50,812 shares of SU which is valued at $1,428,325. Suncor Energy (USA) makes up approx 0.01% of Baird Financial Group’s portfolio.Addenda Capital boosted its stake in SU in the latest quarter, The investment management firm added 234,580 additional shares and now holds a total of 1,437,470 shares of Suncor Energy (USA) which is valued at $40,407,282. Suncor Energy (USA) makes up approx 3.17% of Addenda Capital’s portfolio.Bb&t Securities reduced its stake in SU by selling 2,081 shares or 15.52% in the most recent quarter. The Hedge Fund company now holds 11,329 shares of SU which is valued at $301,238.

Suncor Energy (USA) closed down -0.05 points or -0.18% at $28.28 with 19,63,464 shares getting traded on Tuesday. Post opening the session at $28.36, the shares hit an intraday low of $28.23 and an intraday high of $28.46 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Suncor Energy (USA) reported $-0.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.28.Analysts expectations of $ 6459.12.During the same quarter in the previous year, the company posted $0.63 EPS.

Investors should note that on Jul 27, 2016, Suncor Energy (USA) announced a cash dividend of $0.2900. The company’s management has announced Sep 1, 2016 as the ex-dividend date and fixed the record date on Sep 6, 2016. The payable date has been fixed on Sep 26, 2016.

Many Wall Street Analysts have commented on Suncor Energy (USA). Suncor Energy (USA) was Initiated by BofA/Merrill to “Buy” on Aug 19, 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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