Versor Investments LP Trims Position in Suncor Energy Inc. $SU

Key Points

• Versor Investments LP significantly reduced its stake in Suncor Energy by 40.2%, selling 10,098 shares and ending with 15,002 shares valued at approximately $581,000.
• Suncor Energy reported earnings per share (EPS) of $0.51, beating projections of $0.50, despite revenue of $8.81 billion falling short of the estimated $11.56 billion.
• The company has announced a quarterly dividend increase to $0.4135, up from its previous dividend, reflecting a 4.3% yield and a payout ratio of 51.08%.

Versor Investments LP cut its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 40.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,002 shares of the oil and gas producer's stock after selling 10,098 shares during the period. Versor Investments LP's holdings in Suncor Energy were worth $581,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SU. FCG Investment Co purchased a new stake in shares of Suncor Energy during the first quarter worth about $1,457,000. Corient IA LLC purchased a new stake in shares of Suncor Energy during the first quarter worth about $387,000. Northwest & Ethical Investments L.P. increased its stake in shares of Suncor Energy by 12.9% during the first quarter. Northwest & Ethical Investments L.P. now owns 244,579 shares of the oil and gas producer's stock worth $9,476,000 after purchasing an additional 27,866 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Suncor Energy by 5.4% during the first quarter. Cresset Asset Management LLC now owns 11,046 shares of the oil and gas producer's stock worth $428,000 after purchasing an additional 568 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Suncor Energy by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer's stock worth $436,459,000 after purchasing an additional 290,900 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of NYSE SU traded up $0.9080 during mid-day trading on Friday, reaching $39.9480. The company's stock had a trading volume of 7,039,510 shares, compared to its average volume of 3,373,130. The stock has a 50-day moving average of $39.08 and a two-hundred day moving average of $37.40. The stock has a market capitalization of $48.65 billion, a P/E ratio of 12.29, a P/E/G ratio of 3.36 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the business earned $1.27 earnings per share. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced 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 represents a $1.65 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change 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 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.