Suncor Energy Inc. (NYSE:SU) Short Interest Up 65.2% in May

Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 31,440,000 shares, an increase of 65.2% from the May 15th total of 19,030,000 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 7,600,000 shares, the days-to-cover ratio is presently 4.1 days.

A number of hedge funds have recently made changes to their positions in SU. Dodge & Cox grew its holdings in shares of Suncor Energy by 1.6% during the 4th quarter. Dodge & Cox now owns 55,104,954 shares of the oil and gas producer’s stock worth $1,379,277,000 after purchasing an additional 859,600 shares during the period. Vanguard Group Inc. grew its holdings in shares of Suncor Energy by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 48,285,003 shares of the oil and gas producer’s stock worth $1,573,608,000 after purchasing an additional 702,121 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Suncor Energy by 6.0% during the 1st quarter. Mackenzie Financial Corp now owns 25,270,442 shares of the oil and gas producer’s stock worth $823,992,000 after purchasing an additional 1,439,547 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Suncor Energy by 0.9% during the 1st quarter. 1832 Asset Management L.P. now owns 21,306,725 shares of the oil and gas producer’s stock worth $685,090,000 after purchasing an additional 183,661 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Suncor Energy by 79.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,823,815 shares of the oil and gas producer’s stock worth $548,183,000 after purchasing an additional 7,438,559 shares during the period. 58.48% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on SU. Raymond James raised their price objective on shares of Suncor Energy from C$50.00 to C$52.00 in a research note on Tuesday, May 10th. The Goldman Sachs Group raised their price objective on shares of Suncor Energy from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, May 20th. BMO Capital Markets raised their price objective on shares of Suncor Energy from C$54.00 to C$60.00 in a research note on Thursday, June 9th. National Bank Financial raised their price objective on shares of Suncor Energy from C$52.00 to C$54.00 in a research note on Thursday, April 14th. Finally, Credit Suisse Group raised their price objective on shares of Suncor Energy from C$58.00 to C$63.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $49.79.

Shares of NYSE SU opened at $38.80 on Thursday. The firm has a market capitalization of $54.90 billion, a P/E ratio of 11.35, a PEG ratio of 0.57 and a beta of 1.34. Suncor Energy has a one year low of $17.10 and a one year high of $42.72. The company’s fifty day moving average is $36.93 and its two-hundred day moving average is $31.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.75 and a current ratio of 1.18.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last released its quarterly earnings data on Monday, May 9th. The oil and gas producer reported $1.52 EPS for the quarter, topping the consensus estimate of $1.31 by $0.21. Suncor Energy had a net margin of 14.18% and a return on equity of 15.69%. The business had revenue of $10.65 billion for the quarter, compared to analyst estimates of $9.18 billion. On average, sell-side analysts forecast that Suncor Energy will post 5.28 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, June 3rd will be paid a $0.3623 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, June 2nd. This represents a $1.45 annualized dividend and a yield of 3.74%. Suncor Energy’s payout ratio is presently 43.57%.

Suncor Energy Company Profile (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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