Wells Fargo & Company MN Trims Stake in Suncor Energy Inc. (NYSE:SU)

Wells Fargo & Company MN cut its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,715,706 shares of the oil and gas producer’s stock after selling 266,449 shares during the period. Wells Fargo & Company MN owned 0.54% of Suncor Energy worth $239,593,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. HHM Wealth Advisors LLC increased its stake in shares of Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 325 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Suncor Energy during the fourth quarter valued at approximately $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy during the fourth quarter valued at approximately $36,000. Golden State Wealth Management LLC bought a new stake in shares of Suncor Energy in the 4th quarter worth approximately $39,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Suncor Energy in the 4th quarter worth approximately $45,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Down 9.8 %

SU opened at $33.19 on Friday. The firm’s 50 day simple moving average is $37.94 and its two-hundred day simple moving average is $38.20. The company has a market capitalization of $41.06 billion, a PE ratio of 9.62, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 1-year low of $32.78 and a 1-year high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were paid a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

Analyst Ratings Changes

Several research firms have recently issued reports on SU. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating for the company. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, April 1st. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, Scotiabank raised Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.20.

Suncor Energy Company Profile

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.