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

Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 15,860,000 shares, a decrease of 48.8% from the March 15th total of 30,960,000 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,650,000 shares, the days-to-cover ratio is currently 1.8 days.

NYSE:SU traded up $0.28 during trading hours on Friday, hitting $33.76. 4,139,579 shares of the company’s stock traded hands, compared to its average volume of 6,308,547. The firm has a market cap of $48.32 billion, a P/E ratio of 15.21, a P/E/G ratio of 0.63 and a beta of 1.54. Suncor Energy has a twelve month low of $17.10 and a twelve month high of $34.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 1.06. The stock’s fifty day moving average price is $31.33 and its two-hundred day moving average price is $27.43.

Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 2nd. The oil and gas producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8 billion. Suncor Energy had a net margin of 10.53% and a return on equity of 10.44%. During the same period in the previous year, the firm posted ($0.07) earnings per share. On average, equities research analysts predict that Suncor Energy will post 3.94 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 4th were given a $0.3311 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 3.92%. The ex-dividend date was Thursday, March 3rd. Suncor Energy’s dividend payout ratio is presently 59.91%.

SU has been the subject of several research analyst reports. CIBC upped their price objective on Suncor Energy from C$50.00 to C$60.00 in a report on Thursday. Tudor, Pickering, Holt & Co. lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday, February 4th. Wells Fargo & Company upped their price objective on Suncor Energy from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Royal Bank of Canada lowered Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, February 15th. Finally, Scotiabank boosted their target price on Suncor Energy from C$37.00 to C$38.00 in a research report on Thursday, January 13th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $42.14.

A number of hedge funds have recently modified their holdings of the business. Investors Research Corp increased its position in Suncor Energy by 1.6% in the 1st quarter. Investors Research Corp now owns 18,577 shares of the oil and gas producer’s stock worth $605,000 after purchasing an additional 300 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in Suncor Energy by 60.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,165 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 440 shares during the last quarter. First Bank & Trust increased its position in Suncor Energy by 11.2% in the 4th quarter. First Bank & Trust now owns 5,388 shares of the oil and gas producer’s stock worth $135,000 after purchasing an additional 544 shares during the last quarter. RSM US Wealth Management LLC increased its position in Suncor Energy by 3.0% in the 3rd quarter. RSM US Wealth Management LLC now owns 19,324 shares of the oil and gas producer’s stock worth $401,000 after purchasing an additional 564 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its position in Suncor Energy by 1.0% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 58,079 shares of the oil and gas producer’s stock worth $1,454,000 after purchasing an additional 600 shares during the last quarter. 59.48% of the stock is currently owned by institutional investors.

About Suncor Energy (Get Rating)

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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