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CIBC Asset Management Inc Has $472.09 Million Stock Holdings in Suncor Energy Inc. (NYSE:SU)

By August 21, 2019 No Comments

CIBC Asset Management Inc lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.0% in the 2nd quarter, Holdings Channel reports. The fund owned 15,134,352 shares of the oil and gas producer’s stock after buying an additional 290,561 shares during the period. Suncor Energy comprises 2.8% of CIBC Asset Management Inc’s investment portfolio, making the stock its 7th biggest holding. CIBC Asset Management Inc’s holdings in Suncor Energy were worth $472,090,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SU. Sanders Capital LLC grew its position in shares of Suncor Energy by 25.1% during the first quarter. Sanders Capital LLC now owns 24,516,616 shares of the oil and gas producer’s stock worth $834,328,000 after acquiring an additional 4,914,700 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Suncor Energy during the first quarter worth about $170,379,000. Lazard Asset Management LLC grew its position in shares of Suncor Energy by 328.2% during the first quarter. Lazard Asset Management LLC now owns 3,849,360 shares of the oil and gas producer’s stock worth $124,834,000 after acquiring an additional 2,950,451 shares during the last quarter. FIL Ltd grew its position in shares of Suncor Energy by 4.4% during the first quarter. FIL Ltd now owns 44,367,061 shares of the oil and gas producer’s stock worth $1,437,901,000 after acquiring an additional 1,862,871 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Suncor Energy by 14.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,822,600 shares of the oil and gas producer’s stock worth $448,113,000 after acquiring an additional 1,772,600 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Several equities analysts have recently commented on the stock. ValuEngine lowered shares of Suncor Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. BMO Capital Markets restated a “buy” rating on shares of Suncor Energy in a research report on Monday, June 24th. GMP Securities restated a “hold” rating and set a $48.00 price target on shares of Suncor Energy in a research report on Tuesday, May 7th. Raymond James restated a “buy” rating on shares of Suncor Energy in a research report on Thursday, May 2nd. Finally, Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.48.

Shares of SU opened at $28.52 on Tuesday. The firm has a 50-day moving average price of $30.01 and a 200 day moving average price of $31.92. The firm has a market capitalization of $43.71 billion, a PE ratio of 14.26, a P/E/G ratio of 1.54 and a beta of 1.08. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. Suncor Energy Inc. has a 52-week low of $25.81 and a 52-week high of $42.16.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a $0.321 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.31. Suncor Energy’s dividend payout ratio is currently 62.00%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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