DekaBank Deutsche Girozentrale Has $48.73 Million Stake in Suncor Energy Inc. (NYSE:SU)
DekaBank Deutsche Girozentrale increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,654,675 shares of the oil and gas producer’s stock after buying an additional 44,595 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Suncor Energy were worth $48,730,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. FMR LLC boosted its stake in Suncor Energy by 3.4% in the first quarter. FMR LLC now owns 105,191,127 shares of the oil and gas producer’s stock worth $3,229,653,000 after buying an additional 3,492,013 shares during the period. Wellington Management Group LLP boosted its stake in Suncor Energy by 5.2% in the first quarter. Wellington Management Group LLP now owns 62,617,740 shares of the oil and gas producer’s stock worth $1,922,960,000 after buying an additional 3,103,397 shares during the period. Vanguard Group Inc. boosted its stake in Suncor Energy by 4.2% in the first quarter. Vanguard Group Inc. now owns 38,530,806 shares of the oil and gas producer’s stock worth $1,184,822,000 after buying an additional 1,549,342 shares during the period. BlackRock Inc. boosted its stake in Suncor Energy by 11,547,276.0% in the first quarter. BlackRock Inc. now owns 23,556,647 shares of the oil and gas producer’s stock worth $724,366,000 after buying an additional 23,556,443 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Suncor Energy by 4.8% in the second quarter. CIBC Asset Management Inc now owns 15,871,361 shares of the oil and gas producer’s stock worth $463,195,000 after buying an additional 725,934 shares during the period. Institutional investors own 65.62% of the company’s stock.
Suncor Energy Inc. (SU) opened at 32.39 on Friday. The firm has a market capitalization of $53.75 billion, a price-to-earnings ratio of 25.15 and a beta of 0.82. Suncor Energy Inc. has a one year low of $25.70 and a one year high of $33.79. The firm has a 50-day moving average price of $30.53 and a 200-day moving average price of $30.93.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Tuesday, September 5th will be paid a $0.2552 dividend. The ex-dividend date is Thursday, August 31st. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 3.15%. Suncor Energy ‘s payout ratio is presently 77.87%.
Suncor Energy announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 26th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the oil and gas producer to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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A number of equities research analysts recently weighed in on SU shares. Zacks Investment Research cut Suncor Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. BidaskClub upgraded Suncor Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Barclays PLC restated an “overweight” rating and issued a $52.00 price target (up previously from $47.00) on shares of Suncor Energy in a research note on Wednesday, July 12th. Citigroup Inc. restated a “buy” rating on shares of Suncor Energy in a research note on Wednesday, August 2nd. Finally, AltaCorp Capital cut Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 28th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.10.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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