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

Key Points

• Allianz Asset Management reduced its Suncor Energy stake by 3.8% in Q4, selling 88,649 shares and leaving it with 2.26 million shares valued at about $100.5 million.
• Suncor’s latest results topped revenue expectations at $10.41 billion but came in slightly below earnings estimates, with quarterly EPS of $1.41 versus the $1.45 consensus.
• The company declared a quarterly dividend of $0.60 per share, or $2.40 annually, implying a 3.9% yield; analysts currently rate the stock a consensus Moderate Buy with a $71.67 target price.

Allianz Asset Management GmbH lowered its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,261,106 shares of the oil and gas producer's stock after selling 88,649 shares during the period. Allianz Asset Management GmbH owned 0.19% of Suncor Energy worth $100,489,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SU. Swiss Life Asset Management Ltd raised its position in shares of Suncor Energy by 35.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer's stock valued at $4,240,000 after acquiring an additional 26,252 shares during the last quarter. Picton Mahoney Asset Management raised its position in shares of Suncor Energy by 314.8% during the 3rd quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer's stock valued at $26,246,000 after acquiring an additional 476,077 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Suncor Energy by 36.3% during the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer's stock valued at $75,236,000 after acquiring an additional 451,110 shares during the last quarter. American Century Companies Inc. raised its position in shares of Suncor Energy by 2.1% during the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer's stock valued at $37,519,000 after acquiring an additional 18,231 shares during the last quarter. Finally, SCP Investment LP bought a new stake in shares of Suncor Energy during the 3rd quarter valued at $1,915,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Up 1.5%

Shares of NYSE:SU opened at $62.09 on Thursday. The company's 50-day moving average price is $65.09 and its two-hundred day moving average price is $56.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a one year low of $37.22 and a one year high of $70.29. The stock has a market capitalization of $73.31 billion, a PE ratio of 16.30 and a beta of 0.27.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 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 return on equity of 13.96% and a net margin of 12.29%.During the same period last year, the firm earned $1.31 earnings per share. On average, equities analysts forecast that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy's dividend payout ratio is presently 45.41%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 target price for the company. in a research report on Friday, June 5th. Royal Bank Of Canada boosted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a report on Wednesday, April 1st. Zacks Research lowered shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, June 1st. Weiss Ratings lowered shares of Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.67.

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.

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