As Suncor Energy INC (SU) Shares Declined, Cumberland Partners LTD Cut Position

January 14, 2018 - By Adrian Mccoy

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 $20.80 million, down from 1.04 million 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 $61.57B market cap company. The stock increased 1.01% or $0.38 during the last trading session, reaching $37.97. About 2.01 million shares traded. Suncor Energy Inc. (NYSE:SU) has risen 22.43% since January 14, 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 Kohl’s Corp. (NYSE:KSS) by 599,325 shares to 750,625 shares, valued at $34.27 million in 2017Q3, according to the filing. It also increased its holding in Philip Morris Intl Inc (NYSE:PM) by 60,475 shares in the quarter, for a total of 246,595 shares, and has risen its stake in Discovery Comm Inc Srs A (NASDAQ:DISCA).

Analysts await Suncor Energy Inc. (NYSE:SU) to report earnings on February, 14. They expect $0.38 earnings per share, up 31.03 % or $0.09 from last year’s $0.29 per share. SU’s profit will be $616.21 million for 24.98 P/E if the $0.38 EPS becomes a reality. After $0.41 actual earnings per share reported by Suncor Energy Inc. for the previous quarter, Wall Street now forecasts -7.32 % negative EPS growth.

More notable recent Suncor Energy Inc. (NYSE:SU) news were published by: Fool.ca which released: “Is Suncor Energy Inc. Going to Break its 5-Year High?” on October 06, 2017, also Fool.ca with their article: “Should Suncor Energy Inc. Be on Your Buy List?” published on October 13, 2017, Fool.ca published: “Why Suncor Energy Inc. Remains the Best of Canada’s Oil Patch” on November 03, 2017. More interesting news about Suncor Energy Inc. (NYSE:SU) were released by: Fool.ca and their article: “3 Reasons to Consider Suncor Energy Inc. Right Now” published on October 18, 2017 as well as Investorplace.com‘s news article titled: “Trade of the Day: Suncor Energy Inc. (USA) (SU)” with publication date: September 18, 2017.

Suncor Energy Inc. (NYSE:SU) Ratings Coverage

Among 15 analysts covering Suncor Energy Inc. (NYSE:SU), 12 have Buy rating, 0 Sell and 3 Hold. Therefore 80% are positive. Suncor Energy Inc. had 26 analyst reports since July 21, 2015 according to SRatingsIntel. The company was downgraded on Wednesday, November 18 by TD Securities. The stock of Suncor Energy Inc. (NYSE:SU) earned “Buy” rating by Piper Jaffray on Thursday, January 11. The rating was maintained by Citigroup with “Neutral” on Wednesday, September 16. On Tuesday, March 22 the stock rating was initiated by JP Morgan with “Neutral”. The company was upgraded on Tuesday, November 21 by Edward Jones. The rating was initiated by Wells Fargo with “Outperform” on Friday, December 16. Citigroup downgraded the shares of SU in report on Wednesday, April 20 to “Neutral” rating. Macquarie Research downgraded the shares of SU in report on Tuesday, January 24 to “Neutral” rating. The rating was upgraded by Morgan Stanley on Wednesday, November 2 to “Overweight”. Macquarie Research upgraded the shares of SU in report on Thursday, October 27 to “Outperform” rating.

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