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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 10,660,000 shares, a drop of 20.2% from the March 15th total of 13,360,000 shares. Based on an average daily volume of 5,090,000 shares, the short-interest ratio is presently 2.1 days. Currently, 0.9% of the shares of the stock are sold short.

Suncor Energy Trading Up 2.0 %

SU opened at $34.48 on Friday. The stock has a market capitalization of $42.66 billion, a PE ratio of 10.00, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy has a one year low of $30.79 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The business’s 50 day moving average price is $36.67 and its 200 day moving average price is $37.85.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, equities research analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 45.51%.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds have recently made changes to their positions in SU. Covestor Ltd lifted its stake in Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 256 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of Suncor Energy by 2.2% in the 4th quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock valued at $443,000 after buying an additional 265 shares during the period. Stifel Financial Corp lifted its stake in Suncor Energy by 0.3% during the 4th quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer’s stock worth $3,408,000 after acquiring an additional 265 shares in the last quarter. X Square Capital LLC boosted its holdings in Suncor Energy by 0.3% during the 4th quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer’s stock valued at $2,951,000 after acquiring an additional 267 shares during the period. Finally, UMB Bank n.a. grew its position in Suncor Energy by 27.5% in the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SU shares. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Bank of America started coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating on the stock. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.

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.