Lingohr Asset Management GmbH Trims Holdings in Suncor Energy Inc. $SU

Key Points

• Lingohr Asset Management GmbH has significantly reduced its stake in Suncor Energy Inc. by 77.0%, selling 47,910 shares to end up with 14,294 shares valued at approximately $535,000.
• Despite Lingohr's reduction, other institutional investors like Principal Financial Group and Vident Advisory have increased their investments in Suncor Energy, with holdings now comprising 67.37% of the company's stock.
• Suncor Energy announced an increase in its quarterly dividend to $0.4135 per share, translating to an annual yield of 4.0%, with the next payment scheduled for September 25th.

Lingohr Asset Management GmbH decreased its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 77.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,294 shares of the oil and gas producer's stock after selling 47,910 shares during the quarter. Lingohr Asset Management GmbH's holdings in Suncor Energy were worth $535,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after buying an additional 6,311,513 shares in the last quarter. Inscription Capital LLC purchased a new position in Suncor Energy during the first quarter worth approximately $247,000. Vident Advisory LLC lifted its position in Suncor Energy by 967.9% during the fourth quarter. Vident Advisory LLC now owns 519,112 shares of the oil and gas producer's stock worth $18,522,000 after buying an additional 470,500 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Suncor Energy by 13.3% during the first quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer's stock worth $135,228,000 after buying an additional 409,032 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in Suncor Energy by 168.8% during the fourth quarter. Two Sigma Investments LP now owns 1,729,654 shares of the oil and gas producer's stock worth $61,714,000 after buying an additional 1,086,065 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

SU stock opened at $41.73 on Monday. The business has a fifty day moving average of $39.72 and a two-hundred day moving average of $37.55. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The stock has a market cap of $50.63 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 3.59 and a beta of 0.87. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $42.40.

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

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.4135 per share. This represents a $1.65 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is presently 50.77%.

Suncor Energy Company 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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