Clark Capital Management Group Inc. Boosts Holdings in Suncor Energy Inc. $SU

Key Points

• Clark Capital Management Group Inc. increased its stake in Suncor Energy Inc. by 5.7% during the first quarter, acquiring an additional 37,665 shares, bringing its total ownership to approximately 692,839 shares valued at $26.8 million.
• Suncor Energy recently declared a quarterly dividend increase to $0.4135 per share, representing an annualized dividend of $1.65 and a dividend yield of 4.1%, with the payment scheduled for September 25th.
• In its most recent earnings report, Suncor Energy posted $0.51 EPS, exceeding analysts' estimates of $0.50, with total revenue reported at $8.81 billion.

Clark Capital Management Group Inc. raised its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 692,839 shares of the oil and gas producer's stock after acquiring an additional 37,665 shares during the period. Clark Capital Management Group Inc. owned approximately 0.06% of Suncor Energy worth $26,827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sagespring Wealth Partners LLC raised its position in shares of Suncor Energy by 5.8% during the 1st quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock valued at $235,000 after acquiring an additional 332 shares during the last quarter. Winthrop Capital Management LLC increased its position in shares of Suncor Energy by 2.6% in the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock valued at $529,000 after buying an additional 352 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 405 shares during the last quarter. Hanson & Doremus Investment Management lifted its stake in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in Suncor Energy by 67.0% in the 1st quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 469 shares during the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Suncor Energy stock traded up $0.68 during trading hours on Wednesday, hitting $41.64. The company had a trading volume of 1,469,409 shares, compared to its average volume of 4,675,207. The firm has a market cap of $50.52 billion, a PE ratio of 12.82, a PEG ratio of 3.47 and a beta of 0.87. 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 $41.91. The firm has a 50-day moving average of $39.51 and a 200 day moving average of $37.49.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share 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 firm earned $1.27 EPS. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently declared 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 4.0%. 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. Suncor Energy's payout ratio is presently 50.77%.

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.