Prospector Partners LLC Buys 9,100 Shares of Suncor Energy Inc. $SU

Key Points

• Prospector Partners LLC increased its stake in Suncor Energy by 4.6%, acquiring an additional 9,100 shares, bringing its total holdings to 206,825 shares valued at approximately $8 million.
• Suncor Energy has declared a quarterly dividend of $0.4135 per share, which marks an increase from the previous dividend of $0.41, reflecting a dividend yield of 4.3%.
• Despite reporting earnings per share of $0.51, slightly exceeding analyst expectations, Suncor Energy's revenue fell short of estimates at $8.81 billion for the quarter.

Prospector Partners LLC boosted its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 4.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 206,825 shares of the oil and gas producer's stock after purchasing an additional 9,100 shares during the period. Prospector Partners LLC's holdings in Suncor Energy were worth $8,008,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SU. Hanson & Doremus Investment Management raised its holdings in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 465 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 405 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Suncor Energy during the 1st quarter worth approximately $36,000. Wayfinding Financial LLC acquired a new position in Suncor Energy during the 1st quarter worth approximately $42,000. Finally, ORG Wealth Partners LLC bought a new stake in Suncor Energy during the 1st quarter worth approximately $44,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Up 2.3%

SU traded up $0.9080 during trading on Friday, reaching $39.9480. 6,939,746 shares of the company's stock were exchanged, compared to its average volume of 4,695,198. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.94. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $48.65 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 3.32 and a beta of 0.84. The firm has a fifty day moving average price of $39.10 and a two-hundred day moving average price of $37.39.

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 for the quarter, topping 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 period in the previous year, the firm posted $1.27 EPS. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company 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 is an increase 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 is presently 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.