Ruffer LLP Has $37.70 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Key Points

• Ruffer LLP increased its stakes in Suncor Energy by 3.4%, now holding 973,447 shares valued at approximately $37.7 million. This positions Suncor as the 18th largest investment in Ruffer's portfolio.
• Suncor Energy recently declared a quarterly dividend of $0.4133 per share, marking an increase from the previous $0.40 dividend, which equates to an annualized rate of $1.65 and a yield of 4.2%.
• Analysts have a consensus rating of "Moderate Buy" for Suncor Energy, with an average price target of $66.00 despite a recent downgrade from "buy" to "hold" by Wall Street Zen.

Ruffer LLP grew its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 973,447 shares of the oil and gas producer's stock after buying an additional 31,750 shares during the period. Suncor Energy makes up 1.5% of Ruffer LLP's portfolio, making the stock its 18th biggest position. Ruffer LLP owned approximately 0.08% of Suncor Energy worth $37,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Toronto Dominion Bank raised its stake in Suncor Energy by 3.0% in the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock valued at $680,847,000 after buying an additional 552,018 shares during the period. Principal Financial Group Inc. raised its stake in Suncor Energy by 65.0% in the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after buying an additional 6,311,513 shares during the period. Mackenzie Financial Corp raised its stake in Suncor Energy by 18.6% in the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock valued at $595,398,000 after buying an additional 2,410,857 shares during the period. Dimensional Fund Advisors LP raised its stake in Suncor Energy by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer's stock valued at $391,809,000 after buying an additional 445,613 shares during the period. Finally, Geode Capital Management LLC raised its stake in Suncor Energy by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer's stock valued at $278,537,000 after buying an additional 1,737,573 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.00.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded up $0.13 on Friday, hitting $39.16. The stock had a trading volume of 1,998,689 shares, compared to its average volume of 4,757,296. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.94. The business's 50 day moving average is $38.76 and its two-hundred day moving average is $37.38. The company has a quick ratio of 0.84, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The stock has a market cap of $47.69 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 3.45 and a beta of 0.84.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations 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 in the previous year, the company posted $1.27 earnings per share. Analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.4135 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's dividend payout ratio (DPR) is currently 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.