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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 13,360,000 shares, a decrease of 73.7% from the February 28th total of 50,780,000 shares. Based on an average daily trading volume, of 4,680,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SU. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Bank of America began coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating on the stock. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Up 1.0 %

SU stock opened at $38.88 on Thursday. The business’s 50-day moving average price is $38.15 and its 200-day moving average price is $38.15. The stock has a market cap of $48.09 billion, a P/E ratio of 11.27, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy has a twelve month low of $33.81 and a twelve month high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, equities research analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were paid a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

Institutional Trading of Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in SU. HHM Wealth Advisors LLC raised its position in shares of Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in Suncor Energy in the 4th quarter valued at $35,000. Lee Danner & Bass Inc. purchased a new stake in Suncor Energy in the 4th quarter worth $36,000. Golden State Wealth Management LLC bought a new position in shares of Suncor Energy during the 4th quarter valued at about $39,000. Finally, Covestor Ltd grew its position in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, 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.