Suncor Energy Inc. (NYSE:SU) Short Interest Update

by · The Cerbat Gem

Suncor Energy Inc. (NYSE:SU – Get Free Report) (TSE:SU) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 8,143,255 shares, a decrease of 74.0% from the November 30th total of 31,273,579 shares. Based on an average daily trading volume, of 6,042,780 shares, the short-interest ratio is presently 1.3 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 6,042,780 shares, the short-interest ratio is presently 1.3 days.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded up $0.08 during trading hours on Thursday, hitting $43.24. 1,304,724 shares of the company were exchanged, compared to its average volume of 4,655,064. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $42.56 and a 200-day moving average of $40.87. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $45.60. The stock has a market capitalization of $51.96 billion, a price-to-earnings ratio of 14.18 and a beta of 0.46.

Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same quarter in the prior year, the firm earned $1.48 EPS. As a group, analysts expect that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were issued a $0.60 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.6%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 56.39%.

Institutional Trading of Suncor Energy

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Suncor Energy by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock valued at $2,046,442,000 after acquiring an additional 1,632,247 shares during the period. Artisan Partners Limited Partnership increased its stake in Suncor Energy by 0.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock valued at $1,417,029,000 after purchasing an additional 145,800 shares in the last quarter. Dodge & Cox raised its holdings in Suncor Energy by 0.3% during the third quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock worth $1,148,602,000 after purchasing an additional 70,300 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Suncor Energy by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 20,911,602 shares of the oil and gas producer’s stock worth $779,788,000 after purchasing an additional 641,354 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Suncor Energy by 0.6% in the third quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock valued at $789,213,000 after purchasing an additional 106,765 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SU shares. Wall Street Zen upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday. Finally, Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Suncor Energy has a consensus rating of “Buy” and a consensus target price of $65.00.

View Our Latest Analysis on SU

About Suncor Energy

(Get Free Report)

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.

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