CIBC Asset Management Inc Lowers Stock Holdings in Suncor Energy Inc. $SU

CIBC Asset Management Inc cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,730,916 shares of the oil and gas producer’s stock after selling 145,252 shares during the quarter. Suncor Energy makes up approximately 1.1% of CIBC Asset Management Inc’s holdings, making the stock its 24th biggest holding. CIBC Asset Management Inc owned about 0.72% of Suncor Energy worth $366,607,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Artisan Partners Limited Partnership raised its position in Suncor Energy by 38.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock valued at $1,264,043,000 after purchasing an additional 9,378,552 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Suncor Energy by 49.6% during the second quarter. Fisher Asset Management LLC now owns 8,372,012 shares of the oil and gas producer’s stock valued at $313,532,000 after buying an additional 2,777,150 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock valued at $395,649,000 after acquiring an additional 2,406,000 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Suncor Energy in the second quarter worth about $74,767,000. Finally, Vanguard Group Inc. grew its holdings in Suncor Energy by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock worth $2,046,442,000 after acquiring an additional 1,632,247 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU stock opened at $50.83 on Friday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $51.32. The business’s fifty day simple moving average is $45.24 and its 200-day simple moving average is $42.11. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The company has a market cap of $60.67 billion, a PE ratio of 16.67 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.22. The firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same period in the previous year, the business earned $1.48 EPS. Analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were issued a $0.60 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, December 3rd. Suncor Energy’s dividend payout ratio is 56.39%.

Key Headlines Impacting Suncor Energy

Here are the key news stories impacting Suncor Energy this week:

• Positive Sentiment: Goldman Sachs raised its price target on SU from $48 to $54 and set a “buy” rating, signaling analyst conviction in upside versus the current level. Goldman Sachs raises Suncor price target to $54
• Positive Sentiment: JPMorgan upgraded Suncor, another institutional vote that can support buying interest and help buoy the stock. JPMorgan upgrades Suncor
• Neutral Sentiment: Wells Fargo assigned a “hold” on SU, reflecting mixed views among analysts and suggesting divergent near-term expectations. Wells Fargo hold on Suncor
• Neutral Sentiment: Analyst and market commentary on Suncor’s reassessment and valuation may create trading opportunities for long-term investors, but it’s not an immediate catalyst. Reassessment valuation opportunity
• Negative Sentiment: Fatal workplace incident at the Fort Hills oilsands site (machinery sank into muskeg) — the death is under investigation. This raises safety, potential regulatory scrutiny and reputational risk that can pressure the stock until operational impacts are clarified. Worker dies at Suncor oilsands site Fort Hills worker death coverage
• Negative Sentiment: Unusually heavy put option buying (28,315 puts, ~2,998% above average) indicates elevated bearish hedging or speculation that could amplify near-term downside volatility. High put option volume on Suncor
• Negative Sentiment: Zacks downgraded Suncor from “strong-buy” to “hold,” which may temper buying enthusiasm from certain retail and institutional flows. Zacks downgrades Suncor
• Negative Sentiment: Labor/legal note — Suncor was ordered to pay $160,000 to a former shift supervisor, a reminder of ongoing HR/legal exposures. Suncor ordered to pay ex-employee

Analysts Set New Price Targets

SU has been the subject of several recent research reports. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a report on Friday, October 3rd. Wells Fargo & Company initiated coverage on Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating on the stock. Finally, The Goldman Sachs Group lifted their price target on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.67.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.