Suncor Energy Inc. $SU Holdings Decreased by Ruffer LLP

Key Points

• Ruffer LLP reduced its stake in Suncor Energy by 4.5% during the second quarter, bringing its ownership to 929,257 shares valued at approximately $34.8 million.
• In a positive development, Suncor Energy announced an increase in its quarterly dividend to $0.4135 per share, yielding 3.9%, up from the previous amount of $0.41.
• For the last quarter, Suncor Energy reported earnings of $0.51 per share, slightly exceeding the consensus estimate, despite revenue falling short of expectations at $8.81 billion.

Ruffer LLP reduced its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 929,257 shares of the oil and gas producer's stock after selling 44,190 shares during the quarter. Suncor Energy comprises about 1.5% of Ruffer LLP's investment portfolio, making the stock its 15th largest holding. Ruffer LLP owned 0.08% of Suncor Energy worth $34,848,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hanson & Doremus Investment Management raised its stake in shares of 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 valued at $31,000 after purchasing an additional 465 shares in the last quarter. Salem Investment Counselors Inc. raised its position in Suncor Energy by 97.6% in the first 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 in the last quarter. Maseco LLP bought a new stake in Suncor Energy in the second quarter worth about $32,000. N.E.W. Advisory Services LLC bought a new stake in Suncor Energy in the first quarter worth about $36,000. Finally, Wayfinding Financial LLC bought a new stake in Suncor Energy in the first quarter worth about $42,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $42.41 on Thursday. 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 company's 50-day moving average price is $40.22 and its two-hundred day moving average price is $37.89. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $43.48. The stock has a market cap of $51.27 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 3.43 and a beta of 0.87.

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 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $11.56 billion. During the same period in the previous year, the business earned $1.27 earnings per share. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 3.9%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 4th. Suncor Energy's dividend payout ratio (DPR) is presently 50.77%.

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.

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