Dimensional Fund Advisors LP Increases Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Dimensional Fund Advisors increased its stake in Suncor Energy by 2.2% in Q3, buying 259,684 shares to hold 11,975,602 shares worth about $500.7 million (roughly 0.99% of the company).
• Other institutions also raised positions—most notably Fisher Asset Management, which increased its stake 85.5% to 15,530,965 shares (~$649.35 million)—and institutional investors now own 67.37% of the stock.
• Suncor declared a quarterly dividend of $0.60 per share (annualized $2.40, ~4.2% yield), with an ex-dividend date of March 4 and payment on March 25.

Dimensional Fund Advisors LP grew its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,975,602 shares of the oil and gas producer's stock after acquiring an additional 259,684 shares during the quarter. Dimensional Fund Advisors LP owned about 0.99% of Suncor Energy worth $500,712,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its stake in Suncor Energy by 314.8% in the 3rd quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer's stock worth $26,246,000 after buying an additional 476,077 shares during the period. Victory Capital Management Inc. grew its stake in Suncor Energy by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 91,147 shares of the oil and gas producer's stock worth $3,811,000 after acquiring an additional 1,843 shares in the last quarter. Sprott Inc. increased its position in shares of Suncor Energy by 33.4% during the third quarter. Sprott Inc. now owns 18,779 shares of the oil and gas producer's stock worth $785,000 after acquiring an additional 4,700 shares during the period. Fisher Asset Management LLC raised its stake in shares of Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer's stock valued at $649,350,000 after acquiring an additional 7,158,953 shares in the last quarter. Finally, Aviso Financial Inc. boosted its holdings in shares of Suncor Energy by 4.9% in the third quarter. Aviso Financial Inc. now owns 161,216 shares of the oil and gas producer's stock valued at $6,748,000 after purchasing an additional 7,473 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Up 0.3%

NYSE SU opened at $57.33 on Thursday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $58.47. The company has a fifty day simple moving average of $51.32 and a two-hundred day simple moving average of $45.16. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock has a market cap of $68.22 billion, a P/E ratio of 16.52 and a beta of 0.43.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The firm had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same period last year, the business posted $1.25 earnings per share. On average, analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.2%. Suncor Energy's dividend payout ratio is 49.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SU shares. Raymond James Financial raised shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. raised shares of Suncor Energy from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Weiss Ratings restated a "buy (b)" rating on shares of Suncor Energy in a report on Monday, December 29th. Royal Bank Of Canada lifted their price target on Suncor Energy from $69.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Finally, Wall Street Zen lowered Suncor Energy from a "buy" rating to a "hold" rating in a research report on Sunday, December 28th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.00.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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