Suncor Energy Inc. (NYSE:SU) Short Interest Down 59.1% in September

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of a large 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. Currently, 2.5% of the company’s stock are sold short. Based on an average trading volume of 4,050,000 shares, the days-to-cover ratio is presently 7.9 days.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. raised its position in shares of Suncor Energy by 6.1% during 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. increased its holdings in Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Independence Bank of Kentucky increased its holdings in Suncor Energy by 6.7% in the first quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after purchasing an additional 315 shares during the last quarter. Blue Trust Inc. increased its holdings in Suncor Energy by 11.0% in the second quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock valued at $121,000 after purchasing an additional 325 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU stock opened at $36.81 on Friday. The stock’s fifty day simple moving average is $38.80 and its 200 day simple moving average is $38.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The firm has a market cap of $46.77 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 2.57 and a beta of 1.13. Suncor Energy has a one year low of $29.45 and a one year high of $41.94.

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

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 36.08%.

Wall Street Analyst Weigh In

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

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.