Acadian Asset Management LLC Buys 12,318,559 Shares of Suncor Energy Inc. $SU

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 stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 12,290.9% in the 1st quarter, according to its most recent 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 period. Suncor Energy accounts for approximately 1.4% of Acadian Asset Management LLC's holdings, making the stock its 16th biggest position. Acadian Asset Management LLC owned 1.01% of Suncor Energy worth $480,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Toronto Dominion Bank raised its position in shares of Suncor Energy by 3.0% during 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 buying an additional 552,018 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Suncor Energy by 65.0% during the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after buying an additional 6,311,513 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Suncor Energy by 18.6% during the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock valued at $595,398,000 after buying 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% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock valued at $481,135,000 after buying an additional 5,658,880 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Suncor Energy by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer's stock valued at $436,459,000 after buying an additional 290,900 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Up 1.8%

Shares of NYSE SU opened at $40.96 on Wednesday. The firm's 50-day moving average price is $39.51 and its 200-day moving average price is $37.49. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $49.70 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 3.47 and a beta of 0.87. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $41.76.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the company earned $1.27 EPS. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.4135 dividend. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.0%. Suncor Energy's dividend payout ratio is currently 50.77%.

Suncor Energy 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.

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