Maverick Capital Ltd. Acquires Shares of 22,911 Suncor Energy Inc. $SU

Maverick Capital Ltd. bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,911 shares of the oil and gas producer’s stock, valued at approximately $1,516,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Quantinno Capital Management LP increased its holdings in shares of Suncor Energy by 15.9% during the first quarter. Quantinno Capital Management LP now owns 127,526 shares of the oil and gas producer’s stock valued at $8,431,000 after acquiring an additional 17,460 shares in the last quarter. Copley Financial Group Inc. bought a new position in Suncor Energy in the 1st quarter worth about $210,000. SummitTX Capital L.P. boosted its stake in Suncor Energy by 8.8% in the 1st quarter. SummitTX Capital L.P. now owns 8,982 shares of the oil and gas producer’s stock worth $594,000 after purchasing an additional 729 shares in the last quarter. Family Manage LLC grew its position in Suncor Energy by 10.5% during the 1st quarter. Family Manage LLC now owns 7,404 shares of the oil and gas producer’s stock valued at $489,000 after purchasing an additional 701 shares during the last quarter. Finally, Gateway Wealth Partners LLC purchased a new stake in Suncor Energy during the 1st quarter valued at about $328,000. 67.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SU shares. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. 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. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Friday, June 5th. Finally, Royal Bank Of Canada upped their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $71.67.

Suncor Energy Price Performance

NYSE SU opened at $63.99 on Tuesday. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29. The stock has a 50-day moving average of $60.80 and a 200 day moving average of $59.61. The company has a market capitalization of $75.56 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.49 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results 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 business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period last year, the firm posted $1.31 EPS. On average, sell-side analysts forecast that Suncor Energy Inc. will post 7.11 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s payout ratio is presently 45.67%.

Suncor Energy Profile

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.