Quantitative Investment Management LLC Buys Shares of 12,591 Suncor Energy Inc. $SU

Key Points

• Quantitative Investment Management LLC has acquired a new position in Suncor Energy, purchasing 12,591 shares valued at approximately $487,000 in the first quarter.
• Suncor Energy recently increased its quarterly dividend to $0.4135 per share, representing a yield of 4.1%, up from the previous dividend of $0.41.
• The company reported earnings of $0.51 per share for the last quarter, beating analysts' expectations, although revenue fell short of estimates at $8.81 billion.

Quantitative Investment Management LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,591 shares of the oil and gas producer's stock, valued at approximately $487,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hanson & Doremus Investment Management lifted its stake in Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 465 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in 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 worth $32,000 after purchasing an additional 405 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Suncor Energy during the first quarter worth approximately $36,000. Wayfinding Financial LLC purchased a new stake in Suncor Energy during the first quarter worth approximately $42,000. Finally, ORG Wealth Partners LLC purchased a new stake in Suncor Energy during the first quarter worth approximately $44,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Up 1.4%

SU stock traded up $0.57 during trading on Thursday, hitting $41.59. 5,302,328 shares of the company's stock were exchanged, compared to its average volume of 3,588,733. The business has a 50-day moving average price of $39.11 and a two-hundred day moving average price of $37.46. The stock has a market capitalization of $50.65 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 3.53 and a beta of 0.84. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $41.75. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

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 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 firm had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. During the same quarter in the previous year, the business earned $1.27 earnings per share. As a group, 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 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 of this dividend is Thursday, September 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.0%. Suncor Energy's dividend payout ratio 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.