Suncor Energy Inc. $SU Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly increased its stake in Suncor Energy, acquiring over 12 million shares, raising its position by 12,290.9% in Q1, making it the firm's 16th biggest holding.
• Suncor Energy reported earnings of $0.51 per share for the last quarter, beating estimates, but its revenue of $8.81 billion fell short of expectations of $11.56 billion.
• The company announced a quarterly dividend increase to $0.4135 per share, with a yield of 4.0%, reflecting a dividend payout ratio of 50.77%.

Acadian Asset Management LLC raised its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 12,290.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,418,784 shares of the oil and gas producer's stock after purchasing an additional 12,318,559 shares during the quarter. Suncor Energy makes up approximately 1.4% of Acadian Asset Management LLC's portfolio, making the stock its 16th largest holding. Acadian Asset Management LLC owned 1.01% of Suncor Energy worth $480,760,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in shares of Suncor Energy by 3.0% in the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock valued at $680,847,000 after purchasing an additional 552,018 shares in the last quarter. Principal Financial Group Inc. grew its stake in Suncor Energy by 65.0% in the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after purchasing an additional 6,311,513 shares during the period. Mackenzie Financial Corp boosted its position in shares of Suncor Energy by 18.6% in the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock worth $595,398,000 after purchasing an additional 2,410,857 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Suncor Energy by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock worth $481,135,000 after purchasing an additional 5,658,880 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Suncor Energy by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer's stock worth $436,459,000 after buying an additional 290,900 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

Suncor Energy stock traded up $0.55 during mid-day trading on Monday, reaching $42.27. 1,070,204 shares of the stock traded hands, compared to its average volume of 4,645,350. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $42.40. The stock has a market capitalization of $51.29 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 3.59 and a beta of 0.87. The business's 50-day moving average is $39.72 and its 200-day moving average is $37.55.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The firm had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 3.9%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 4th. Suncor Energy's payout ratio is presently 50.46%.

About Suncor Energy

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.