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

Suncor Energy Inc. (NYSE:SUGet Free Report) (TSE:SU) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 12,451,828 shares, an increase of 71.1% from the April 30th total of 7,276,893 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average trading volume of 3,569,110 shares, the short-interest ratio is presently 3.5 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC raised its holdings in Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the period. 1 North Wealth Services LLC bought a new position in shares of Suncor Energy during the fourth quarter worth $32,000. Smartleaf Asset Management LLC grew its holdings in shares of Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 388 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in shares of Suncor Energy in the 1st quarter valued at $53,000. Finally, Headlands Technologies LLC bought a new stake in shares of Suncor Energy in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SU. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.00.

View Our Latest Report on Suncor Energy

Suncor Energy Trading Up 0.4%

NYSE SU opened at $65.57 on Thursday. The stock has a 50-day simple moving average of $65.33 and a 200 day simple moving average of $55.57. The company has a market capitalization of $77.42 billion, a PE ratio of 17.21 and a beta of 0.27. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. Suncor Energy has a 12 month low of $35.93 and a 12 month high of $70.29.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter last year, the business posted $1.31 EPS. Research analysts forecast that Suncor Energy will post 7.07 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 46.19%.

Suncor Energy Company Profile

(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.

Further Reading

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