Maverick Capital Ltd. Acquires 20,861 Shares of Suncor Energy Inc. (NYSE:SU)

Maverick Capital Ltd. boosted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 246.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,310 shares of the oil and gas producer’s stock after purchasing an additional 20,861 shares during the period. Maverick Capital Ltd.’s holdings in Suncor Energy were worth $1,117,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Toronto Dominion Bank grew its holdings in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after purchasing an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Suncor Energy by 90.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the last quarter. National Bank of Canada FI grew its holdings in Suncor Energy by 60.7% in the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after acquiring an additional 3,272,896 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Suncor Energy by 305.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after acquiring an additional 1,300,000 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Suncor Energy by 25.7% during the second quarter. Principal Financial Group Inc. now owns 5,643,431 shares of the oil and gas producer’s stock valued at $215,080,000 after acquiring an additional 1,153,424 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SU shares. Scotiabank reduced their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Price Performance

Shares of SU stock opened at $36.81 on Friday. The business’s fifty day moving average is $38.76 and its 200 day moving average is $38.42. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The stock has a market cap of $46.77 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 2.57 and a beta of 1.13. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same period last year, the business earned $0.71 EPS. Suncor Energy’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts expect that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.395 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.29%. Suncor Energy’s payout ratio is 36.08%.

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.