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Suncor Energy Inc. (NYSE:SU) Stock Position Lowered by Allspring Global Investments Holdings LLC

Suncor Energy logo with Energy background

Allspring Global Investments Holdings LLC trimmed its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 8.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 423,944 shares of the oil and gas producer's stock after selling 40,551 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Suncor Energy were worth $16,555,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its position in Suncor Energy by 86.0% during the 4th quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer's stock worth $2,421,000 after acquiring an additional 31,366 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Suncor Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer's stock valued at $159,030,000 after purchasing an additional 99,669 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Suncor Energy by 250.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 19,811 shares of the oil and gas producer's stock worth $759,000 after purchasing an additional 14,163 shares during the period. Sei Investments Co. lifted its holdings in Suncor Energy by 2.5% in the fourth quarter. Sei Investments Co. now owns 444,201 shares of the oil and gas producer's stock worth $15,849,000 after purchasing an additional 10,852 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Suncor Energy by 4.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer's stock valued at $361,227,000 after buying an additional 437,252 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

NYSE:SU traded up $0.11 during trading hours on Thursday, reaching $38.41. 1,466,755 shares of the company's stock were exchanged, compared to its average volume of 4,461,686. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $46.96 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 3.29 and a beta of 0.80. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.95. The business's 50-day simple moving average is $36.82 and its two-hundred day simple moving average is $36.96.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. During the same period last year, the company posted $1.41 EPS. Sell-side analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were paid a $0.4133 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.30%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is currently 47.84%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Scotiabank raised shares of Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.67.

Read Our Latest Analysis on Suncor Energy

Suncor Energy Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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