Wells Fargo & Company MN lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,862,472 shares of the oil and gas producer’s stock after selling 340,129 shares during the period. Wells Fargo & Company MN owned approximately 0.50% of Suncor Energy worth $244,994,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new position in shares of Suncor Energy during the first quarter valued at about $31,000. Cornerstone Advisors Inc. raised its position in shares of Suncor Energy by 121.7% during the first quarter. Cornerstone Advisors Inc. now owns 1,095 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 601 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in shares of Suncor Energy during the first quarter valued at about $38,000. Trustcore Financial Services LLC acquired a new position in shares of Suncor Energy during the first quarter valued at about $39,000. Finally, Acima Private Wealth LLC raised its position in shares of Suncor Energy by 28.3% during the first quarter. Acima Private Wealth LLC now owns 1,450 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 320 shares during the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on SU. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Monday, May 13th. Raymond James reissued a “buy” rating on shares of Suncor Energy in a research report on Thursday, May 2nd. BMO Capital Markets reissued a “buy” rating on shares of Suncor Energy in a research report on Monday, June 24th. GMP Securities reissued a “hold” rating and issued a $48.00 price target on shares of Suncor Energy in a research report on Tuesday, May 7th. Finally, ValuEngine lowered shares of Suncor Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $47.48.
NYSE:SU traded down $0.50 during mid-day trading on Friday, hitting $27.87. The company’s stock had a trading volume of 2,084,484 shares, compared to its average volume of 4,404,699. Suncor Energy Inc. has a fifty-two week low of $25.81 and a fifty-two week high of $42.16. The company has a current ratio of 0.98, a quick ratio of 0.63 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $44.13 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.57 and a beta of 1.08. The stock has a fifty day moving average of $29.77 and a 200-day moving average of $31.83.
Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.09). Suncor Energy had a return on equity of 10.20% and a net margin of 14.55%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $8.15 billion. On average, equities analysts anticipate that Suncor Energy Inc. will post 2.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.321 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.61%. Suncor Energy’s dividend payout ratio (DPR) is presently 62.00%.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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