Suncor Energy Inc. (NYSE:SU) Sees Significant Increase in Short Interest

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 18,260,000 shares, an increase of 48.7% from the August 15th total of 12,280,000 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 6,850,000 shares, the short-interest ratio is presently 2.7 days.

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Suncor Energy by 34.3% during the second quarter. FMR LLC now owns 53,574,915 shares of the oil and gas producer’s stock valued at $1,283,196,000 after buying an additional 13,697,247 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Suncor Energy by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 46,426,717 shares of the oil and gas producer’s stock valued at $1,112,849,000 after acquiring an additional 165,194 shares during the period. TD Asset Management Inc. boosted its holdings in Suncor Energy by 20.8% during the 1st quarter. TD Asset Management Inc. now owns 35,227,682 shares of the oil and gas producer’s stock valued at $736,310,000 after acquiring an additional 6,067,887 shares during the period. Sanders Capital LLC grew its position in Suncor Energy by 3.3% in the 2nd quarter. Sanders Capital LLC now owns 32,674,165 shares of the oil and gas producer’s stock valued at $813,362,000 after acquiring an additional 1,054,554 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Suncor Energy by 10.5% in the second quarter. Artisan Partners Limited Partnership now owns 24,237,215 shares of the oil and gas producer’s stock worth $580,512,000 after purchasing an additional 2,294,900 shares during the period. 60.20% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently commented on SU shares. Wells Fargo & Company reduced their price objective on Suncor Energy from $30.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, July 30th. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, September 8th. TD Securities cut their target price on shares of Suncor Energy from C$44.00 to C$42.00 and set a “buy” rating for the company in a research report on Thursday, July 29th. National Bank Financial reduced their target price on shares of Suncor Energy from C$42.00 to C$41.00 and set a “sector perform” rating for the company in a report on Monday, July 19th. Finally, Barclays dropped their price target on shares of Suncor Energy from C$46.00 to C$39.00 and set an “overweight” rating on the stock in a research note on Monday, August 2nd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Buy” and an average price target of $33.17.

NYSE SU traded down $0.21 during trading hours on Friday, hitting $19.36. 6,097,221 shares of the company were exchanged, compared to its average volume of 7,620,390. Suncor Energy has a 52 week low of $10.67 and a 52 week high of $25.73. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $19.52 and a 200 day moving average price of $21.60. The stock has a market cap of $28.71 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 3.05 and a beta of 1.69.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, July 28th. The oil and gas producer reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. Suncor Energy had a return on equity of 4.62% and a net margin of 5.04%. The firm had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $6.80 billion. As a group, sell-side analysts anticipate that Suncor Energy will post 2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 3rd will be given a dividend of $0.167 per share. This represents a $0.67 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Thursday, September 2nd. Suncor Energy’s dividend payout ratio (DPR) is -60.91%.

Suncor Energy Company Profile

Suncor Energy, Inc is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. The company operates through the following business segments: Oil Sands; Exploration & Production; and Refining & Marketing.

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