PNC Financial Services Group Inc recently announced a significant decline in their stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU). According to the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), PNC Financial reduced its holdings in Suncor Energy by a whopping 10.9% during the 4th quarter, which has been a cause of concern for many investors.
Suncor Energy Inc. serves as an integrated energy company specializing in the development of petroleum resource basins. The company operates through four primary segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment operates assets located in the Athabasca oil sands of northeast Alberta.
The news has raised many eyebrows given that PNC Financial Services Group Inc has always held a significant position within Suncor Energy. However, it is imperative to note that the firm still owns more than 194,587 shares of Suncor’s stock but sold around 23,900 shares during the last quarter alone. The total value of these shares was estimated to be $6,174,000 based on PNC Financial’s latest SEC filing.
The effects of this move by PNC Financial could have repercussions for Suncor Energy’s stakeholders as well as other investors who had placed their trust in one of Canada’s leading energy companies.
Currently trading at $28.91 per share on Thursday, Suncor Energy Inc.’s stock price has seen better days despite its distinct presence within a volatile market sector. The company’s debt-to-equity ratio stands at 0.25 while its quick ratio is only .69 indicating current modest liquidity.
Suncor Energy maintains a high degree of activity with notable fluctuations in market openings resulting from substantial changes in production activities across various locations worldwide.
With a 52-week low of $26.42 and a high of $42.72, Suncor Energy has experienced significant volatility in market value over the past year. Its 50-day moving average price of $30.25 and 200-day moving average price of $32.06 underscores this activity, although the company’s CEO remains optimistic about future growth.
Undoubtedly, stakeholders will be observing the developments within Suncor Energy keenly following PNC Financial’s assessment of its holdings in the company during challenging economic times like these where every move counts towards building a brighter energy future together.
Investors Show Interest in Suncor Energy: Updates on Holdings and Market Trends
Suncor Energy is a well-known and popular oil and gas producer in the stock market. Recently, other large investors have also modified their holdings of this company with diverse improvements on their positions during the first and fourth quarters of 2021. Causes for change include various factors, such as market trends and financial forecasting.
Toth Financial Advisory Corp increased its position by 42.9% with now owning 1,000 shares of the stock worth $32,000 after acquiring an additional 300 shares in that period. Following suit, EverSource Wealth Advisors LLC raised their position by 20.9%, buying an additional 325 shares; Schechter Investment Advisors LLC raised its position by 1.3%, acquiring another 327 shares; Checchi Capital Advisers LLC boosted its holdings by buying an extra 345 shares while X Square Capital LLC added another 447 shares, raising its share in Suncor Energy to $1,553,000.
It is notable that all of these changes in holding are from institutional investors who announce regulatory reports publicly, thus giving relevant insights to the stock market analysts who have been studying it closely. After consulting various equities analysts that commented on this news recently Bloomberg notes that the consensus rating for Suncor Energy at present is “Hold”. Out of eight equities analysts studied five rate the stock as “hold” and three give it a “buy” rating.
Moreover, Suncor Energy declared a quarterly dividend which will be paid out on June 26th to shareholders who were recorded as registered on Monday June 5th with dividends set at $0.384 per share yielding a return value of nearly $1.54 annually per shareholder according to reports released from credible sources like National Bank Financial.
Overall investors will need to carefully study all this data before making any decisions due to several complex factors currently influencing it and making this investment more complicated than usual for an energy company. The market values and trends will keep fluctuating and the power players in the sector like Suncor Energy will have to analyze all the aspects of their business repeatedly to stay ahead.
Source: beststocks.com
PNC Financial Services Group Inc recently announced a significant decline in their stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU). According to the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), PNC Financial reduced its holdings in Suncor Energy by a whopping 10.9% during the 4th quarter, which has been a cause of concern for many investors.
Suncor Energy Inc. serves as an integrated energy company specializing in the development of petroleum resource basins. The company operates through four primary segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations. Its Oil Sands segment operates assets located in the Athabasca oil sands of northeast Alberta.
The news has raised many eyebrows given that PNC Financial Services Group Inc has always held a significant position within Suncor Energy. However, it is imperative to note that the firm still owns more than 194,587 shares of Suncor’s stock but sold around 23,900 shares during the last quarter alone. The total value of these shares was estimated to be $6,174,000 based on PNC Financial’s latest SEC filing.
The effects of this move by PNC Financial could have repercussions for Suncor Energy’s stakeholders as well as other investors who had placed their trust in one of Canada’s leading energy companies.
Currently trading at $28.91 per share on Thursday, Suncor Energy Inc.’s stock price has seen better days despite its distinct presence within a volatile market sector. The company’s debt-to-equity ratio stands at 0.25 while its quick ratio is only .69 indicating current modest liquidity.
Suncor Energy maintains a high degree of activity with notable fluctuations in market openings resulting from substantial changes in production activities across various locations worldwide.
With a 52-week low of $26.42 and a high of $42.72, Suncor Energy has experienced significant volatility in market value over the past year. Its 50-day moving average price of $30.25 and 200-day moving average price of $32.06 underscores this activity, although the company’s CEO remains optimistic about future growth.
Undoubtedly, stakeholders will be observing the developments within Suncor Energy keenly following PNC Financial’s assessment of its holdings in the company during challenging economic times like these where every move counts towards building a brighter energy future together.
Investors Show Interest in Suncor Energy: Updates on Holdings and Market Trends
Suncor Energy is a well-known and popular oil and gas producer in the stock market. Recently, other large investors have also modified their holdings of this company with diverse improvements on their positions during the first and fourth quarters of 2021. Causes for change include various factors, such as market trends and financial forecasting.
Toth Financial Advisory Corp increased its position by 42.9% with now owning 1,000 shares of the stock worth $32,000 after acquiring an additional 300 shares in that period. Following suit, EverSource Wealth Advisors LLC raised their position by 20.9%, buying an additional 325 shares; Schechter Investment Advisors LLC raised its position by 1.3%, acquiring another 327 shares; Checchi Capital Advisers LLC boosted its holdings by buying an extra 345 shares while X Square Capital LLC added another 447 shares, raising its share in Suncor Energy to $1,553,000.
It is notable that all of these changes in holding are from institutional investors who announce regulatory reports publicly, thus giving relevant insights to the stock market analysts who have been studying it closely. After consulting various equities analysts that commented on this news recently Bloomberg notes that the consensus rating for Suncor Energy at present is “Hold”. Out of eight equities analysts studied five rate the stock as “hold” and three give it a “buy” rating.
Moreover, Suncor Energy declared a quarterly dividend which will be paid out on June 26th to shareholders who were recorded as registered on Monday June 5th with dividends set at $0.384 per share yielding a return value of nearly $1.54 annually per shareholder according to reports released from credible sources like National Bank Financial.
Overall investors will need to carefully study all this data before making any decisions due to several complex factors currently influencing it and making this investment more complicated than usual for an energy company. The market values and trends will keep fluctuating and the power players in the sector like Suncor Energy will have to analyze all the aspects of their business repeatedly to stay ahead.
Source: beststocks.com
