PNC Financial Services Group Inc. Lowers Stock Position in Suncor Energy Inc. (NYSE:SU)

PNC Financial Services Group Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,412 shares of the oil and gas producer’s stock after selling 4,513 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Suncor Energy were worth $4,760,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SU. Assenagon Asset Management S.A. increased 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 buying an additional 3,225,543 shares during the period. Principal Financial Group Inc. boosted its position in Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after buying an additional 2,767,043 shares during the period. Fisher Asset Management LLC boosted its position in Suncor Energy by 97.4% in the 4th 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 buying an additional 1,842,791 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after buying an additional 1,829,936 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Suncor Energy by 104.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after buying an additional 1,573,726 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU opened at $35.71 on Thursday. Suncor Energy Inc. has a 1-year low of $33.81 and a 1-year high of $41.95. The stock has a market cap of $44.18 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The firm has a fifty day moving average price of $38.29 and a 200 day moving average price of $38.31.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share 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, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be paid a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.47%. Suncor Energy’s dividend payout ratio is presently 45.51%.

Analyst Ratings Changes

Several equities analysts have commented on SU shares. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Four 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.00.

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.