Calgary, Alberta, Jan 5, 2026, 08:41 MST
- CWA Asset Management Group lifted its Suncor Energy stake by 64.9% in the third quarter, a regulatory filing showed.
- Allspring Global Investments boosted its holding by 45.7% in the same quarter, another filing showed.
- Oil prices are expected to ease in 2026 as supply growth outpaces demand, a Reuters poll found.
Two asset managers increased their stakes in Suncor Energy Inc in the third quarter, regulatory filings showed, adding to a wave of institutional positioning in the Canadian oil producer’s U.S.-listed shares.
The disclosures land as investors start the year re-checking energy exposure after a volatile 2025 for crude prices and as oil market forecasts turn more cautious. For Suncor, steady dividends and buybacks have become a central part of the equity story, particularly for funds looking for cash returns rather than pure oil-price upside.
The filings also arrive amid renewed focus on supply risks and OPEC+ policy, which can quickly shift expectations for producer cash flow. That matters for large, integrated operators like Suncor, whose upstream production and refining business can cushion — but not erase — swings in crude markets.
CWA Asset Management Group LLC increased its Suncor holding by 64.9% during the third quarter, buying 46,342 shares to end the period with 117,779 shares valued at about $4.9 million, according to the SEC filing.
Allspring Global Investments Holdings LLC boosted its position by 45.7% in the third quarter, purchasing 227,197 shares to hold 723,965 shares worth about $29.9 million, the filing showed. The stake represented roughly 0.06% of Suncor’s outstanding shares.
Suncor shares opened at $45.55 on Monday, giving the company a market value of roughly $54.6 billion, according to MarketBeat’s summary of the filing. The stock is near its recent highs after a rally that has pulled more institutions into the name.
The company has also leaned into shareholder returns. MarketBeat said Suncor raised its quarterly dividend to $0.60 a share, up from $0.41 previously, implying an annualized payout of $2.40 and a yield of about 5.3% at recent prices.
Oil, however, remains the big variable for Suncor and its Canadian peers such as Cenovus Energy and Canadian Natural Resources, which compete for investor dollars in the same heavy-crude patch. “Even with quotas unchanged, supply is expected to exceed demand, keeping prices under pressure through the year,” said Bridget Payne, head of energy forecasting at Oxford Economics, after a Reuters poll put 2026 Brent at $61.27 a barrel on average. Reuters
The risk for Suncor bulls is that the filings are backward-looking — they show third-quarter positions, not what funds have done since — while oil’s macro backdrop can change fast. A deeper-than-expected downturn in crude prices, operational disruptions, or a shift in refining margins would test the durability of cash returns that have helped underpin the stock.
