Russell Investments Group Ltd. Has $66.48 Million Stake in Suncor Energy Inc. $SU

Key Points

• Russell Investments Group Ltd. reduced its stake in Suncor Energy Inc. by 5.4%, selling 97,465 shares to hold a total of 1,718,304 shares valued at $66.48 million.
• Suncor Energy announced a quarterly dividend increase to $0.4135 per share, representing an annualized dividend yield of 4.2%.
• Analysts currently have a consensus rating of "Moderate Buy" for Suncor Energy, with a target price set at $66.00.

Russell Investments Group Ltd. lowered its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,718,304 shares of the oil and gas producer's stock after selling 97,465 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Suncor Energy worth $66,477,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SU. Prudential PLC boosted its stake in Suncor Energy by 375.0% during the 1st quarter. Prudential PLC now owns 115,452 shares of the oil and gas producer's stock worth $4,471,000 after purchasing an additional 91,144 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. increased its position in shares of Suncor Energy by 318.6% in the first quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 22,300 shares of the oil and gas producer's stock valued at $863,000 after buying an additional 16,973 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Suncor Energy in the first quarter valued at approximately $126,048,000. Aigen Investment Management LP acquired a new stake in shares of Suncor Energy during the first quarter valued at $646,000. Finally, Entropy Technologies LP acquired a new stake in Suncor Energy during the first quarter worth approximately $2,129,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 0.7%

SU traded down $0.26 during trading on Monday, hitting $38.63. 1,081,168 shares of the company's stock were exchanged, compared to its average volume of 4,665,627. The stock has a 50 day moving average price of $39.06 and a 200 day moving average price of $37.36. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 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 firm has a market cap of $47.04 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data 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. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. During the same period last year, the company posted $1.27 EPS. As a group, analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.3%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is currently 51.08%.

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.