Maverick Capital Ltd. Purchases New Position in Suncor Energy Inc. $SU

Key Points

• Maverick Capital Ltd. has invested approximately $467,000 in Suncor Energy Inc. by acquiring 12,068 shares in the first quarter of 2023.
• Suncor Energy recently announced a quarterly dividend increase to $0.4135 per share, reflecting a yield of 4.0%.
• The company's latest earnings report showed a quarterly EPS of $0.51, beating analysts' expectations of $0.50, despite lower revenue of $8.81 billion.

Maverick Capital Ltd. acquired a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,068 shares of the oil and gas producer's stock, valued at approximately $467,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Toronto Dominion Bank raised its holdings in Suncor Energy by 3.0% during the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock worth $680,847,000 after buying an additional 552,018 shares during the period. Principal Financial Group Inc. raised its holdings in Suncor Energy by 65.0% during the 1st 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 during the period. Mackenzie Financial Corp raised its holdings in Suncor Energy by 18.6% during the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock worth $595,398,000 after buying an additional 2,410,857 shares during the period. Goldman Sachs Group Inc. raised its holdings in Suncor Energy by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock worth $481,135,000 after buying an additional 5,658,880 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Suncor Energy by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer's stock valued at $436,459,000 after purchasing an additional 290,900 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Down 0.4%

Shares of SU traded down $0.17 during trading hours on Friday, reaching $39.98. The company's stock had a trading volume of 4,100,802 shares, compared to its average volume of 3,920,818. The firm has a market cap of $48.51 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 3.46 and a beta of 0.87. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $41.76. 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 company has a 50 day moving average of $39.39 and a two-hundred day moving average of $37.50.

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

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.4135 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio is currently 50.46%.

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.