Allianz Asset Management GmbH Sells 88,649 Shares of Suncor Energy Inc. $SU

Allianz Asset Management GmbH reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,261,106 shares of the oil and gas producer’s stock after selling 88,649 shares during the quarter. Allianz Asset Management GmbH’s holdings in Suncor Energy were worth $100,489,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SU. Atlantic Edge Private Wealth Management LLC grew its position in shares of Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its position in shares of Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares in the last quarter. Accent Capital Management LLC boosted its position in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Maseco LLP acquired a new stake in shares of Suncor Energy during the 4th quarter worth approximately $39,000. 67.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on SU shares. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Royal Bank Of Canada increased their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Weiss Ratings lowered shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Finally, Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Price Performance

SU stock opened at $62.09 on Thursday. The company has a fifty day moving average price of $65.09 and a 200-day moving average price of $56.20. The company has a market capitalization of $73.31 billion, a P/E ratio of 16.30 and a beta of 0.27. Suncor Energy Inc. has a 52-week low of $37.22 and a 52-week high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the business posted $1.31 EPS. As a group, equities analysts expect that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 45.41%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.