Deutsche Bank AG Makes New $165.38 Million Investment in Suncor Energy Inc. $SU

Key Points

• Deutsche Bank invested approximately $165.4 million in Suncor Energy during the second quarter, acquiring 3.08 million shares and ending the period with a 0.26% stake. Institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly earnings of $2.33 per share, exceeding the $2.14 consensus estimate, while revenue reached $13.41 billion versus expectations of $11.68 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $80.25. Suncor also declared a quarterly dividend of $0.60 per share, representing a 3.6% annualized yield.

Deutsche Bank AG purchased a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,080,863 shares of the oil and gas producer's stock, valued at approximately $165,381,000. Deutsche Bank AG owned approximately 0.26% of Suncor Energy at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer's stock valued at $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock worth $77,000 after buying an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer's stock worth $100,000 after buying an additional 464 shares during the last quarter. AXA S.A. boosted its stake in Suncor Energy by 17.2% in the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock valued at $1,883,000 after buying an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Suncor Energy by 6.4% in the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock valued at $2,514,000 after buying an additional 4,043 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SU. Zacks Research lowered shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research report on Friday, June 26th. Desjardins raised shares of Suncor Energy to a "moderate buy" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley set a $106.00 price target on shares of Suncor Energy in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.25.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $67.54 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.29. The firm has a market cap of $79.75 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The firm's fifty day moving average is $60.75 and its 200-day moving average is $61.45.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.19. The business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same period in the prior year, the business posted $0.71 earnings per share. Sell-side analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy's payout ratio is currently 32.04%.

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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