Suncor Energy Inc. (NYSE:SU) Short Interest Down 46.7% in March

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 38,470,000 shares, a drop of 46.7% from the February 29th total of 72,140,000 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 4,270,000 shares, the short-interest ratio is currently 9.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Suncor Energy by 1.5% during the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock worth $1,732,051,000 after acquiring an additional 731,163 shares during the last quarter. Ninepoint Partners LP acquired a new position in shares of Suncor Energy in the third quarter worth $77,355,000. JPMorgan Chase & Co. lifted its position in shares of Suncor Energy by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock valued at $183,876,000 after acquiring an additional 628,262 shares in the last quarter. FMR LLC lifted its holdings in Suncor Energy by 0.3% in the 3rd quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock valued at $593,188,000 after purchasing an additional 49,765 shares in the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of Suncor Energy by 227.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 260,684 shares of the oil and gas producer’s stock worth $8,962,000 after purchasing an additional 181,194 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 0.9 %

NYSE SU traded up $0.33 during trading hours on Thursday, hitting $36.81. 604,431 shares of the company were exchanged, compared to its average volume of 4,288,693. The company has a 50 day moving average of $33.66 and a two-hundred day moving average of $33.22. The firm has a market cap of $47.41 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 3.39 and a beta of 1.12. Suncor Energy has a 52-week low of $27.59 and a 52-week high of $36.97. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter in the previous year, the firm earned $1.33 EPS. Equities research analysts anticipate that Suncor Energy will post 3.58 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a dividend of $0.406 per share. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a dividend yield of 4.41%. Suncor Energy’s dividend payout ratio (DPR) is currently 34.26%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products. This segment also engages in syncrude oil sands mining and upgrading operations; and marketing, supply, transportation, and risk management of crude oil, natural gas, power, and byproducts.