PNC Financial Services Group Inc. Sells 8,671 Shares of Suncor Energy Inc. (NYSE:SU)

PNC Financial Services Group Inc. cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.6% in the 4th quarter, HoldingsChannel reports. The firm 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 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Suncor Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 50,534,957 shares of the oil and gas producer’s stock worth $1,619,140,000 after acquiring an additional 155,343 shares in the last quarter. Wahed Invest LLC raised its stake in shares of Suncor Energy by 10.4% during the fourth quarter. Wahed Invest LLC now owns 10,431 shares of the oil and gas producer’s stock worth $336,000 after acquiring an additional 980 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Suncor Energy by 38.4% during the fourth quarter. Fisher Asset Management LLC now owns 7,479 shares of the oil and gas producer’s stock worth $240,000 after acquiring an additional 2,076 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Suncor Energy during the fourth quarter worth approximately $25,000. Finally, Syon Capital LLC raised its stake in shares of Suncor Energy by 92.3% during the fourth quarter. Syon Capital LLC now owns 21,724 shares of the oil and gas producer’s stock worth $696,000 after acquiring an additional 10,427 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Morgan Stanley lifted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. The Goldman Sachs Group lifted their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, TD Securities lifted their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

Suncor Energy Stock Up 1.8 %

Shares of Suncor Energy stock opened at $37.01 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $38.86 and its two-hundred day simple moving average is $35.41. The company 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. Suncor Energy Inc. has a 12-month low of $28.07 and a 12-month high of $41.50.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The business had revenue of $9.29 billion for 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 anticipate that Suncor Energy Inc. will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.19%.

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.