Gulf International Bank UK Ltd Boosts Stake in Suncor Energy Inc. (NYSE:SU)

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in Suncor Energy Inc. by purchasing an additional 69,562 shares, raising its total holdings to 72,076 shares, valued at approximately $2.79 million.
• Suncor Energy recently declared a quarterly dividend of $0.4135 per share, increasing from the previous dividend, and representing an annualized yield of 4.2%.
• Wall Street analysts have adjusted their ratings on Suncor Energy, with the average rating now at "Moderate Buy" and a consensus target price of $66.00 per share.

Gulf International Bank UK Ltd grew its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2,767.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,076 shares of the oil and gas producer's stock after purchasing an additional 69,562 shares during the quarter. Gulf International Bank UK Ltd's holdings in Suncor Energy were worth $2,791,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Suncor Energy during the fourth quarter worth $18,829,000. Covestor Ltd raised its stake in shares of Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 256 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Suncor Energy by 4.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 48,502 shares of the oil and gas producer's stock valued at $1,731,000 after buying an additional 2,053 shares during the period. Townsquare Capital LLC bought a new stake in shares of Suncor Energy in the fourth quarter valued at $202,000. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of Suncor Energy in the fourth quarter valued at $205,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of SU traded down $0.11 during mid-day trading on Friday, hitting $38.88. The stock had a trading volume of 1,967,544 shares, compared to its average volume of 3,145,019. The firm has a market cap of $47.35 billion, a P/E ratio of 11.96, a PEG ratio of 3.35 and a beta of 0.84. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.94. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The business has a fifty day moving average price of $39.06 and a 200-day moving average price of $37.37.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced 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 company had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. During the same period in the previous year, the business earned $1.27 earnings per share. On average, equities research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.4135 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.3%. 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 dividend payout ratio (DPR) is presently 51.08%.

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.