Allspring Global Investments Holdings LLC Sells 1,221 Shares of Suncor Energy Inc. (NYSE:SU)

Allspring Global Investments Holdings LLC decreased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,394 shares of the oil and gas producer’s stock after selling 1,221 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Suncor Energy were worth $2,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its stake in Suncor Energy by 10.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 2,895 shares in the last quarter. Vanguard Group Inc. raised its stake in Suncor Energy by 1.5% in the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock worth $1,732,051,000 after buying an additional 731,163 shares in the last quarter. Sanders Capital LLC raised its stake in Suncor Energy by 2.8% in the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after buying an additional 1,568,629 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Suncor Energy by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock worth $183,876,000 after buying an additional 628,262 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Suncor Energy by 1,689.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock worth $18,118,000 after buying an additional 533,754 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SU shares. The Goldman Sachs Group lifted their price target 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. Raymond James raised shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, June 24th. TD Securities lifted their price target 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. Finally, Morgan Stanley lifted their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.67.

Suncor Energy Price Performance

NYSE:SU opened at $38.78 on Wednesday. Suncor Energy Inc. has a one year low of $28.26 and a one year high of $41.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The firm has a market cap of $49.70 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 3.61 and a beta of 1.12. The firm’s fifty day moving average is $38.75 and its two-hundred day moving average is $35.83.

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 analysts’ consensus estimates of $0.90 by $0.15. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. Research analysts expect that Suncor Energy Inc. will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were given a $0.395 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.07%. Suncor Energy’s dividend payout ratio (DPR) is currently 35.19%.

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.