Allianz Asset Management GmbH Sells 63,655 Shares of Suncor Energy Inc. (NYSE:SU)

Allianz Asset Management GmbH trimmed its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,118,711 shares of the oil and gas producer's stock after selling 63,655 shares during the period. Allianz Asset Management GmbH owned 0.09% of Suncor Energy worth $36,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SU. NBC Securities Inc. acquired a new position in Suncor Energy during the 3rd quarter valued at about $54,000. Atria Investments Inc bought a new stake in shares of Suncor Energy during the 3rd quarter worth about $1,114,000. Great Lakes Advisors LLC raised its position in shares of Suncor Energy by 26.6% during the 3rd quarter. Great Lakes Advisors LLC now owns 9,745 shares of the oil and gas producer's stock worth $335,000 after buying an additional 2,045 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Suncor Energy by 54.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 24,805 shares of the oil and gas producer's stock worth $853,000 after buying an additional 8,781 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Suncor Energy during the 3rd quarter worth about $232,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on SU shares. Raymond James upgraded shares of Suncor Energy to a "hold" rating in a research report on Tuesday. Morgan Stanley boosted their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. TD Securities boosted their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a "hold" rating in a report on Wednesday, May 22nd. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, May 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.67.

Suncor Energy Trading Up 2.4 %

Shares of SU stock traded up $0.95 during trading hours on Friday, reaching $40.82. 12,948,684 shares of the stock traded hands, compared to its average volume of 4,440,025. Suncor Energy Inc. has a 1-year low of $27.78 and a 1-year high of $41.50. The business has a fifty day moving average price of $38.87 and a 200 day moving average price of $34.99. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $52.49 billion, a PE ratio of 9.09, a PEG ratio of 3.66 and a beta of 1.11.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. On average, equities research analysts forecast that Suncor Energy Inc. will post 3.62 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th will be given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Tuesday, June 4th. Suncor Energy's payout ratio is presently 35.86%.

Suncor Energy Company 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.