Allianz Asset Management GmbH Sells 161,016 Shares of Suncor Energy Inc. $SU

Allianz Asset Management GmbH decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,349,755 shares of the oil and gas producer’s stock after selling 161,016 shares during the period. Allianz Asset Management GmbH owned 0.19% of Suncor Energy worth $98,354,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 1,254 shares during the period. Janney Montgomery Scott LLC increased its position in Suncor Energy by 3.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 36,328 shares of the oil and gas producer’s stock worth $1,360,000 after buying an additional 1,076 shares during the period. Truist Financial Corp boosted its position in shares of Suncor Energy by 1.8% in the second quarter. Truist Financial Corp now owns 51,441 shares of the oil and gas producer’s stock valued at $1,926,000 after acquiring an additional 886 shares during the period. Finally, Ascent Group LLC boosted its position in shares of Suncor Energy by 4.7% in the second quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock valued at $216,000 after acquiring an additional 260 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SU. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company assumed coverage on shares of Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating on the stock. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of $57.67.

Suncor Energy Trading Up 1.4%

SU stock opened at $53.42 on Wednesday. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $54.80. 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 business’s 50 day moving average is $46.37 and its 200-day moving average is $42.78. The firm has a market cap of $63.75 billion, a P/E ratio of 17.51 and a beta of 0.46.

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

About Suncor Energy

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.