Maverick Capital Ltd. Takes Position in Suncor Energy Inc. $SU

Maverick Capital Ltd. acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 22,911 shares of the oil and gas producer’s stock, valued at approximately $1,516,000.

A number of other hedge funds also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its position in Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Suncor Energy during the 2nd quarter valued at about $31,000. 1 North Wealth Services LLC purchased a new stake in shares of Suncor Energy during the 4th quarter valued at about $32,000. Accent Capital Management LLC increased its position in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Finally, Maseco LLP bought a new position in shares of Suncor Energy in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SU shares. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Weiss Ratings cut shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $71.67.

Suncor Energy Stock Performance

Shares of SU opened at $63.99 on Tuesday. The business has a 50-day simple moving average of $60.80 and a two-hundred day simple moving average of $59.61. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.29. The stock has a market cap of $75.56 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.49 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, analysts expect that Suncor Energy Inc. will post 7.11 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.8%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.67%.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.