Cumberland Partners LTD Position in Suncor Energy INC (SU) Decreased as Market Value Declined

March 18, 2018 - By Henry Gaston

Andrew Wallach decreased its stake in Suncor Energy Inc (SU) by 42.82% based on its latest 2017Q3 regulatory filing with the SEC. Cumberland Partners Ltd sold 445,665 shares as the company’s stock declined 0.40% while stock markets rallied. The hedge fund run by Andrew Wallach held 595,117 shares of the integrated oil company at the end of 2017Q3, valued at $20.80M, down from 1.04M at the end of the previous reported quarter. Cumberland Partners Ltd who had been investing in Suncor Energy Inc for a number of months, seems to be less bullish one the $54.09B market cap company. The stock increased 1.24% or $0.4 during the last trading session, reaching $32.72. About 3.16M shares traded. Suncor Energy Inc. (NYSE:SU) has risen 22.43% since March 18, 2017 and is uptrending. It has outperformed by 5.73% the S&P500.

Cumberland Partners Ltd, which manages about $742.28 million US Long portfolio, upped its stake in Cgi Group Inc. Cls A (NYSE:GIB) by 121,005 shares to 488,725 shares, valued at $25.27 million in 2017Q3, according to the filing. It also increased its holding in Bank Of America (NYSE:BAC) by 154,100 shares in the quarter, for a total of 534,175 shares, and has risen its stake in Hanesbrands Inc (NYSE:HBI).

Analysts await Suncor Energy Inc. (NYSE:SU) to report earnings on April, 25. They expect $0.47 earnings per share, up 27.03 % or $0.10 from last year’s $0.37 per share. SU’s profit will be $776.95 million for 17.40 P/E if the $0.47 EPS becomes a reality. After $0.62 actual earnings per share reported by Suncor Energy Inc. for the previous quarter, Wall Street now forecasts -24.19 % negative EPS growth.

Suncor Energy Inc. (NYSE:SU) Ratings Coverage

Among 16 analysts covering Suncor Energy Inc. (NYSE:SU), 15 have Buy rating, 0 Sell and 1 Hold. Therefore 94% are positive. Suncor Energy Inc. had 31 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Suncor Energy Inc. (NYSE:SU) has “Overweight” rating given on Friday, February 9 by JP Morgan. TD Securities upgraded Suncor Energy Inc. (NYSE:SU) on Friday, February 9 to “Buy” rating. As per Thursday, January 11, the company rating was maintained by Piper Jaffray. Piper Jaffray maintained the shares of SU in report on Friday, February 9 with “Buy” rating. The company was upgraded on Thursday, June 23 by Citigroup. Desjardins Securities upgraded the shares of SU in report on Thursday, December 1 to “Buy” rating. The stock of Suncor Energy Inc. (NYSE:SU) has “Outperform” rating given on Friday, October 30 by National Bank Canada. Macquarie Research downgraded the shares of SU in report on Tuesday, January 24 to “Neutral” rating. The firm has “Buy” rating given on Tuesday, November 21 by Edward Jones. On Wednesday, September 16 the stock rating was maintained by Citigroup with “Neutral”.

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