Prudential Financial Inc. Grows Stock Position in Suncor Energy Inc. (NYSE:SU)

Prudential Financial Inc. grew its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 68.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,222 shares of the oil and gas producer's stock after acquiring an additional 45,340 shares during the period. Prudential Financial Inc.'s holdings in Suncor Energy were worth $3,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in Suncor Energy by 1,324.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer's stock worth $123,774,000 after purchasing an additional 3,225,543 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer's stock worth $346,298,000 after buying an additional 2,767,043 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Suncor Energy by 2,061.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer's stock worth $86,990,000 after buying an additional 2,325,503 shares during the period. Fisher Asset Management LLC raised its holdings in Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer's stock valued at $133,250,000 after acquiring an additional 1,842,791 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock worth $110,017,000 after acquiring an additional 1,573,726 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They issued a "neutral" rating on the stock. Morgan Stanley cut Suncor Energy from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 16th. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Tuesday. Scotiabank upgraded Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Finally, Cibc World Mkts upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Stock Performance

NYSE SU traded down $2.33 on Thursday, reaching $36.81. The stock had a trading volume of 5,465,680 shares, compared to its average volume of 4,368,259. The stock has a market cap of $45.53 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 12-month low of $33.81 and a 12-month high of $41.95. The business's 50-day moving average price is $38.11 and its 200 day moving average price is $38.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, equities analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.34%. Suncor Energy's payout ratio is 45.51%.

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.