Suncor Energy Inc. (NYSE:SU) Stock Short Interest Falls 35.8%

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 13,306,044 shares, a decline of 35.8% from the September 15th total of 20,739,907 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 3,650,638 shares, the short-interest ratio is presently 3.6 days.

Institutional Investors Weigh In On Suncor Energy

Hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC grew its position in Suncor Energy by 1.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 10,239 shares of the oil and gas producer’s stock worth $695,000 after purchasing an additional 166 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in shares of Suncor Energy by 1.1% in the first quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after purchasing an additional 171 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after purchasing an additional 190 shares in the last quarter. DGS Capital Management LLC boosted its position in shares of Suncor Energy by 3.2% in the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after buying an additional 193 shares during the period. Finally, Sage Investment Counsel LLC boosted its position in shares of Suncor Energy by 2.4% in the first quarter. Sage Investment Counsel LLC now owns 8,600 shares of the oil and gas producer’s stock worth $569,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 2.9%

Shares of NYSE SU opened at $77.80 on Friday. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $79.65. The company has a market cap of $90.99 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.51 and a beta of 0.36. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $68.57 and a 200-day simple moving average of $64.78.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. The business had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. During the same quarter last year, the company posted $0.71 EPS. Sell-side analysts predict that Suncor Energy will post 8.12 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a dividend of C$0.60 per share. The ex-dividend date was Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.1%. Suncor Energy’s payout ratio is currently 31.86%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SU shares. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a report on Wednesday, August 19th. Weiss Ratings raised shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $79.62.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.