Deutsche Bank AG Reduces Holdings in Suncor Energy Inc. (NYSE:SU)

Key Points

• Deutsche Bank AG has reduced its holdings in Suncor Energy Inc. by 33.8%, selling 734,384 shares in the first quarter, leaving them with approximately 0.12% ownership valued at $55.7 million.
• Suncor Energy recently announced a quarterly dividend increase to $0.4135 per share, reflecting a 4.3% yield and boosting its annual dividend from the previous $0.41.
• Despite a recent earnings report that exceeded expectations by $0.01 per share, Wall Street analysts have lowered their rating on Suncor Energy from "buy" to "hold."

Deutsche Bank AG cut its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 33.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,438,949 shares of the oil and gas producer's stock after selling 734,384 shares during the quarter. Deutsche Bank AG owned about 0.12% of Suncor Energy worth $55,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SU. Principal Financial Group Inc. grew its position in Suncor Energy by 65.0% during 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 last quarter. Inscription Capital LLC bought a new position in shares of Suncor Energy in the first quarter worth approximately $247,000. Vident Advisory LLC lifted its position in Suncor Energy by 967.9% during the fourth quarter. Vident Advisory LLC now owns 519,112 shares of the oil and gas producer's stock valued at $18,522,000 after purchasing an additional 470,500 shares during the period. Bank of New York Mellon Corp raised its position in Suncor Energy by 13.3% in the first quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer's stock worth $135,228,000 after acquiring an additional 409,032 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Suncor Energy by 14.2% during the 4th quarter. Ameriprise Financial Inc. now owns 623,306 shares of the oil and gas producer's stock valued at $22,884,000 after purchasing an additional 77,556 shares during the period. Institutional investors own 67.37% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Suncor Energy currently has an average rating of "Moderate Buy" and an average target price of $66.00.

Suncor Energy Stock Performance

Shares of NYSE SU traded up $0.09 during midday trading on Wednesday, reaching $38.93. The company had a trading volume of 2,016,735 shares, compared to its average volume of 3,286,868. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.94. The stock has a market cap of $47.41 billion, a P/E ratio of 11.98, a P/E/G ratio of 3.35 and a beta of 0.84. The business's 50-day simple moving average is $38.97 and its 200 day simple moving average is $37.37.

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

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.4135 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.65 annualized dividend and a yield of 4.2%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio (DPR) is 51.08%.

Suncor Energy 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.