Truist Financial Corp Sells 17,412 Shares of Suncor Energy Inc. $SU

Truist Financial Corp trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 33.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,029 shares of the oil and gas producer’s stock after selling 17,412 shares during the quarter. Truist Financial Corp’s holdings in Suncor Energy were worth $1,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. lifted its stake in Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Headlands Technologies LLC bought a new stake in Suncor Energy in the second quarter valued at approximately $31,000. Hanson & Doremus Investment Management lifted its position in shares of Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 465 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Suncor Energy during the 2nd quarter worth approximately $37,000. Finally, Corsicana & Co. bought a new position in shares of Suncor Energy during the 3rd quarter worth approximately $42,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $53.82 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $55.30. The company’s 50 day moving average price is $46.89 and its two-hundred day moving average price is $43.08. The firm has a market cap of $64.24 billion, a PE ratio of 15.51 and a beta of 0.45.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same quarter in the prior year, the business posted $1.25 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is presently 49.57%.

Wall Street Analyst Weigh In

SU has been the subject of several research reports. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Royal Bank Of Canada raised their target price on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group lifted their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price target for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

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.