Suncor Energy Inc. (NYSE:SU) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,810 shares of the oil and gas producer’s stock after selling 9,818 shares during the quarter. Truist Financial Corp’s holdings in Suncor Energy were worth $1,745,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Chase Investment Counsel Corp grew its position in Suncor Energy by 7.2% in the 2nd quarter. Chase Investment Counsel Corp now owns 12,666 shares of the oil and gas producer’s stock worth $482,000 after purchasing an additional 852 shares during the last quarter. Quarry LP increased its position in Suncor Energy by 73.0% in the 2nd quarter. Quarry LP now owns 51,678 shares of the oil and gas producer’s stock valued at $1,969,000 after acquiring an additional 21,806 shares during the period. NewEdge Advisors LLC increased its position in Suncor Energy by 52.8% in the 2nd quarter. NewEdge Advisors LLC now owns 39,593 shares of the oil and gas producer’s stock valued at $1,509,000 after acquiring an additional 13,674 shares during the period. Creative Planning boosted its position in Suncor Energy by 3.3% during the 2nd quarter. Creative Planning now owns 250,035 shares of the oil and gas producer’s stock worth $9,526,000 after acquiring an additional 7,889 shares during the period. Finally, Driehaus Capital Management LLC boosted its position in Suncor Energy by 60.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 17,700 shares of the oil and gas producer’s stock worth $675,000 after acquiring an additional 6,700 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $40.40 on Friday. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94. The company has a market capitalization of $51.16 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 2.66 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The stock has a fifty day moving average of $38.96 and a 200-day moving average of $38.65.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 EPS. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.91%. Suncor Energy’s payout ratio is currently 37.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. Scotiabank cut their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

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.