PDT Partners LLC Increases Stock Position in Suncor Energy Inc. $SU

Key Points

• PDT Partners LLC increased its position in Suncor Energy by 84.3% in the first quarter, now holding 182,301 shares worth approximately $7.06 million.
• Suncor Energy has recently raised its quarterly dividend to $0.4135, resulting in an annualized dividend of $1.65 and a yield of 4.0%.
• The company's earnings per share for the latest quarter were reported at $0.51, exceeding analyst expectations of $0.50, while revenue was $8.81 billion, below the estimated $11.56 billion.

PDT Partners LLC increased its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 84.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,301 shares of the oil and gas producer's stock after purchasing an additional 83,381 shares during the quarter. Suncor Energy makes up approximately 0.5% of PDT Partners LLC's holdings, making the stock its 21st largest holding. PDT Partners LLC's holdings in Suncor Energy were worth $7,059,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hanson & Doremus Investment Management increased its holdings in Suncor Energy by 143.5% during 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 period. Salem Investment Counselors Inc. raised its holdings in shares of Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 405 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Suncor Energy in the first quarter worth $36,000. Wayfinding Financial LLC bought a new stake in Suncor Energy in the first quarter valued at $42,000. Finally, ORG Wealth Partners LLC bought a new stake in Suncor Energy in the first quarter valued at $44,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Down 1.1%

Suncor Energy stock traded down $0.45 during mid-day trading on Thursday, reaching $40.18. 3,963,816 shares of the company traded hands, compared to its average volume of 4,694,545. 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 52-week low of $30.79 and a 52-week high of $41.76. The firm has a market capitalization of $48.94 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 3.56 and a beta of 0.87. The firm's 50 day moving average price is $39.29 and its 200 day moving average price is $37.49.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced 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. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. On average, analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.4135 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. 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%. Suncor Energy's dividend payout ratio (DPR) is currently 51.08%.

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.