Suncor Energy Inc. (NYSE:SU) Stake Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,389 shares of the oil and gas producer’s stock after selling 8,671 shares during the period. PNC Financial Services Group Inc.’s holdings in Suncor Energy were worth $4,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SU. Sanders Capital LLC lifted its stake in shares of Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after purchasing an additional 1,568,629 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Suncor Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,534,957 shares of the oil and gas producer’s stock valued at $1,619,140,000 after purchasing an additional 155,343 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after purchasing an additional 4,612,764 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Suncor Energy by 8.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock valued at $717,210,000 after purchasing an additional 1,725,969 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Suncor Energy by 0.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 20,530,994 shares of the oil and gas producer’s stock valued at $657,772,000 after purchasing an additional 182,289 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

NYSE SU opened at $37.01 on Wednesday. The stock has a market cap of $47.59 billion, a P/E ratio of 8.24, a PEG ratio of 3.45 and a beta of 1.11. The company’s 50-day simple moving average is $38.86 and its 200 day simple moving average is $35.41. Suncor Energy Inc. has a twelve month low of $28.07 and a twelve month high of $41.50. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.15. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. As a group, research analysts forecast that Suncor Energy Inc. will post 3.52 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.395 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 annualized dividend and a yield of 4.27%. Suncor Energy’s dividend payout ratio is 35.19%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SU. TD Securities lifted their price objective on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. The Goldman Sachs Group lifted their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Raymond James raised shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Finally, Morgan Stanley boosted their target price 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.67.

About Suncor Energy

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.