Assenagon Asset Management S.A. Trims Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Assenagon Asset Management significantly reduced its holdings in Suncor Energy Inc. by 98.6%, owning just 23,644 shares after selling over 1.6 million shares in the second quarter.
• Suncor Energy recently announced a dividend increase to $0.4135 per share, which represents a 3.9% yield, up from the previous dividend of $0.41.
• For its most recent quarter, Suncor reported earnings per share of $0.51, surpassing analyst expectations, despite revenue falling short of estimates at $8.81 billion.

Assenagon Asset Management S.A. trimmed its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 98.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,644 shares of the oil and gas producer's stock after selling 1,607,643 shares during the period. Assenagon Asset Management S.A.'s holdings in Suncor Energy were worth $884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Suncor Energy by 121.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 249,870 shares of the oil and gas producer's stock valued at $8,915,000 after purchasing an additional 137,266 shares during the period. Moody National Bank Trust Division bought a new position in Suncor Energy in the 1st quarter valued at $206,000. AdvisorNet Financial Inc boosted its holdings in Suncor Energy by 109.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,978 shares of the oil and gas producer's stock valued at $77,000 after purchasing an additional 1,032 shares during the period. GAMMA Investing LLC boosted its holdings in Suncor Energy by 2,380.2% in the 1st quarter. GAMMA Investing LLC now owns 6,002 shares of the oil and gas producer's stock valued at $232,000 after purchasing an additional 5,760 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in Suncor Energy by 14.1% in the 1st quarter. Merit Financial Group LLC now owns 9,429 shares of the oil and gas producer's stock valued at $365,000 after purchasing an additional 1,165 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Down 0.3%

Shares of NYSE:SU opened at $42.59 on Friday. The firm has a fifty day moving average price of $40.37 and a two-hundred day moving average price of $38.01. 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 one year low of $30.79 and a one year high of $43.48. The company has a market cap of $51.49 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 3.46 and a beta of 0.87.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The company had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. During the same period in the previous year, the firm posted $1.27 EPS. Analysts anticipate 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 was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were given 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 was Thursday, September 4th. Suncor Energy's dividend payout ratio (DPR) is presently 51.08%.

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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