Allianz Asset Management GmbH Has $93.86 Million Stock Position in Suncor Energy Inc. $SU

Key Points

• Allianz Asset Management GmbH reduced its stake in Suncor Energy by 30.2%, now owning 2,510,771 shares valued at approximately $93.86 million.
• Several large investors significantly increased their stakes in Suncor during the first quarter, with Acadian Asset Management raising its stake by an astonishing 12,290.9%.
• Suncor Energy recently increased its quarterly dividend to $0.4135 per share, representing an annualized yield of 4.3% and a payout ratio of 51.08%.

Allianz Asset Management GmbH lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 30.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,510,771 shares of the oil and gas producer's stock after selling 1,084,012 shares during the period. Allianz Asset Management GmbH owned approximately 0.21% of Suncor Energy worth $93,860,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Acadian Asset Management LLC grew its stake in Suncor Energy by 12,290.9% in the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer's stock valued at $480,760,000 after acquiring an additional 12,318,559 shares during the period. Principal Financial Group Inc. grew its stake in Suncor Energy by 65.0% in the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after acquiring an additional 6,311,513 shares during the period. Goldman Sachs Group Inc. grew its stake in Suncor Energy by 83.6% in the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock valued at $481,135,000 after acquiring an additional 5,658,880 shares during the period. Nuveen LLC acquired a new stake in Suncor Energy in the first quarter valued at approximately $126,048,000. Finally, Mackenzie Financial Corp grew its stake in Suncor Energy by 18.6% in the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock valued at $595,398,000 after acquiring an additional 2,410,857 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on SU shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Royal Bank Of Canada reissued an "outperform" rating and issued a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Suncor Energy Stock Down 1.4%

Shares of NYSE:SU opened at $38.57 on Friday. The stock has a market cap of $46.63 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 3.09 and a beta of 0.78. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48. The business's 50 day moving average is $40.71 and its 200 day moving average is $38.27.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same quarter in the previous year, the firm earned $1.27 earnings per share. On average, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were issued a dividend of $0.4135 per share. This represents a $1.65 dividend on an annualized basis and a yield of 4.3%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. Suncor Energy's dividend payout ratio is 51.08%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.

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