Short Interest in Suncor Energy Inc. (NYSE:SU) Declines By 59.1%

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 32,170,000 shares, a drop of 59.1% from the August 31st total of 78,630,000 shares. Based on an average daily trading volume, of 4,050,000 shares, the short-interest ratio is currently 7.9 days. Approximately 2.5% of the shares of the company are short sold.

Suncor Energy Trading Up 0.8 %

Shares of Suncor Energy stock opened at $36.81 on Friday. Suncor Energy has a 12-month low of $29.45 and a 12-month high of $41.94. The stock has a market capitalization of $46.77 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 2.57 and a beta of 1.13. The company has a 50-day simple moving average of $38.76 and a 200 day simple moving average of $38.42. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. Suncor Energy’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Research analysts expect that Suncor Energy will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s payout ratio is presently 36.08%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Scotiabank lowered their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. Finally, TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.83.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. raised its stake in shares of Suncor Energy by 6.1% in the second quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock worth $186,000 after acquiring an additional 281 shares during the last quarter. Adirondack Trust Co. lifted its holdings in Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 313 shares in the last quarter. Independence Bank of Kentucky boosted its position in Suncor Energy by 6.7% in the 1st quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after buying an additional 315 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Suncor Energy by 11.0% in the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock valued at $121,000 after buying an additional 325 shares during the period. Finally, Richardson Financial Services Inc. raised its position in shares of Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Company Profile

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.