Short Interest in Suncor Energy Inc. (NYSE:SU) Declines By 16.8%


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Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 9,940,000 shares, a drop of 16.8% from the March 31st total of 11,940,000 shares. Based on an average daily trading volume, of 8,580,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.7% of the shares of the company are short sold.

Several hedge funds and other institutional investors have recently made changes to their positions in SU. First Bank & Trust grew its position in Suncor Energy by 18.2% during the first quarter. First Bank & Trust now owns 3,392 shares of the oil and gas producer’s stock valued at $71,000 after acquiring an additional 523 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Suncor Energy by 36.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,299 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 609 shares in the last quarter. Pekin Hardy Strauss Inc. grew its stake in shares of Suncor Energy by 0.4% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 172,036 shares of the oil and gas producer’s stock valued at $2,887,000 after buying an additional 616 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Suncor Energy by 4.3% during the 4th quarter. Proficio Capital Partners LLC now owns 18,899 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 785 shares during the period. Finally, Raymond James Trust N.A. lifted its position in Suncor Energy by 4.0% during the 1st quarter. Raymond James Trust N.A. now owns 21,751 shares of the oil and gas producer’s stock worth $455,000 after acquiring an additional 838 shares in the last quarter. Institutional investors and hedge funds own 61.98% of the company’s stock.

A number of research firms have recently commented on SU. CIBC boosted their price objective on Suncor Energy from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, March 10th. National Bank Financial reissued a “sector perform” rating on shares of Suncor Energy in a report on Wednesday, January 6th. Tudor Pickering reaffirmed a “buy” rating and issued a $28.00 price target on shares of Suncor Energy in a research note on Friday, March 19th. Barclays increased their price objective on Suncor Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, January 29th. Finally, Raymond James raised their price objective on Suncor Energy from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.31.

SU stock traded down $0.05 during mid-day trading on Tuesday, hitting $21.89. 7,405,611 shares of the company were exchanged, compared to its average volume of 8,424,288. The business has a fifty day simple moving average of $21.25 and a 200-day simple moving average of $18.05. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. Suncor Energy has a 12-month low of $10.67 and a 12-month high of $23.69. The firm has a market capitalization of $33.32 billion, a P/E ratio of -6.95, a PEG ratio of 24.20 and a beta of 1.71.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, February 2nd. The oil and gas producer reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Suncor Energy had a negative return on equity of 1.71% and a negative net margin of 23.13%. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. Research analysts predict that Suncor Energy will post -1.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 25th. Investors of record on Thursday, March 4th were paid a dividend of $0.1642 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Wednesday, March 3rd. Suncor Energy’s dividend payout ratio is presently 30.66%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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