Cumberland Partners LTD Has Trimmed Suncor Energy INC (SU) Holding by $15.15 Million

January 14, 2018 - By Michael Collier

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 $61.57B market cap company. The stock increased 1.01% or $0.38 during the last trading session, reaching $37.97. About 2.01M 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 Hanesbrands Inc (NYSE:HBI) by 484,050 shares to 849,550 shares, valued at $20.93 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 Kohl’s Corp. (NYSE:KSS).

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 $616.21M 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: “3 Reasons to Consider Suncor Energy Inc. Right Now” published on October 18, 2017, Fool.ca published: “Should You Buy Enbridge Inc. or Suncor Energy Inc. Today?” on November 19, 2017. More interesting news about Suncor Energy Inc. (NYSE:SU) were released by: Fool.ca and their article: “Why Suncor Energy Inc. Remains the Best of Canada’s Oil Patch” published on November 03, 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. As per Friday, October 30, the company rating was upgraded by National Bank Canada. The firm has “Buy” rating by Bank of America given on Friday, August 19. The stock of Suncor Energy Inc. (NYSE:SU) has “Neutral” rating given on Tuesday, March 22 by JP Morgan. The stock of Suncor Energy Inc. (NYSE:SU) has “Neutral” rating given on Tuesday, January 24 by Macquarie Research. The stock has “Buy” rating by Edward Jones on Tuesday, November 21. The stock of Suncor Energy Inc. (NYSE:SU) has “Buy” rating given on Thursday, June 23 by Citigroup. The rating was initiated by Wells Fargo on Friday, December 16 with “Outperform”. On Thursday, October 27 the stock rating was upgraded by Macquarie Research to “Outperform”. The firm earned “Hold” rating on Wednesday, November 18 by TD Securities. The company was upgraded on Wednesday, November 2 by Morgan Stanley.

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