Allspring Global Investments Holdings LLC boosted its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 55.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 464,495 shares of the oil and gas producer's stock after purchasing an additional 164,891 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Suncor Energy were worth $16,740,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Stonebridge Financial Group LLC bought a new position in Suncor Energy during the fourth quarter valued at $45,000. Savant Capital LLC increased its position in Suncor Energy by 27.7% during the fourth quarter. Savant Capital LLC now owns 8,754 shares of the oil and gas producer's stock valued at $312,000 after acquiring an additional 1,900 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in Suncor Energy by 46.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 22,503 shares of the oil and gas producer's stock valued at $803,000 after acquiring an additional 7,088 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in Suncor Energy by 11.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,142 shares of the oil and gas producer's stock valued at $112,000 after acquiring an additional 333 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Suncor Energy during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 67.37% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on SU. Cibc World Mkts upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Finally, Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.00.
Read Our Latest Stock Analysis on SU
Suncor Energy Stock Up 0.8 %
Shares of SU stock traded up $0.30 during mid-day trading on Thursday, hitting $40.19. 2,936,388 shares of the stock traded hands, compared to its average volume of 4,557,070. The stock has a market cap of $50.02 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.91 and a beta of 1.12. The stock's fifty day moving average is $37.83 and its two-hundred day moving average is $38.63. Suncor Energy Inc. has a 52-week low of $32.64 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Equities analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.
Suncor Energy Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Tuesday, March 4th. Suncor Energy's payout ratio is currently 46.67%.
About Suncor Energy
(
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
Before you consider Suncor Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Suncor Energy wasn't on the list.
While Suncor Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
