Short Interest in Suncor Energy Inc. (NYSE:SU) Declines By 10.5%
Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 8,290,000 shares, a drop of 10.5% from the December 15th total of 9,260,000 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average trading volume of 2,930,000 shares, the days-to-cover ratio is presently 2.8 days.
Suncor Energy stock traded up $0.46 during trading on Tuesday, reaching $34.48. 3,951,965 shares of the company’s stock were exchanged, compared to its average volume of 4,054,079. Suncor Energy has a 52-week low of $27.28 and a 52-week high of $34.87. The firm has a market cap of $52.29 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 0.96. The company’s 50-day moving average is $32.44 and its two-hundred day moving average is $30.88.
Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $8.02 billion. Suncor Energy had a return on equity of 9.24% and a net margin of 12.87%. Analysts anticipate that Suncor Energy will post 2.64 EPS for the current year.
Several hedge funds have recently bought and sold shares of SU. Invesco Ltd. boosted its holdings in Suncor Energy by 38.9% in the 2nd quarter. Invesco Ltd. now owns 45,009,227 shares of the oil and gas producer’s stock worth $1,402,487,000 after acquiring an additional 12,616,590 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Suncor Energy by 69.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 27,155,100 shares of the oil and gas producer’s stock worth $857,559,000 after buying an additional 11,142,227 shares during the period. Beutel Goodman & Co Ltd. lifted its holdings in Suncor Energy by 205.5% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 13,042,524 shares of the oil and gas producer’s stock worth $411,456,000 after buying an additional 8,773,910 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Suncor Energy by 330.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,664,157 shares of the oil and gas producer’s stock worth $83,125,000 after buying an additional 2,045,647 shares in the last quarter. Finally, National Pension Service purchased a new position in Suncor Energy in the 2nd quarter valued at about $78,789,000. Institutional investors and hedge funds own 65.13% of the company’s stock.
Several equities research analysts have commented on the company. CIBC set a $53.00 price target on Suncor Energy and gave the stock a “buy” rating in a research note on Friday, October 11th. Royal Bank of Canada restated a “buy” rating and issued a $47.00 price objective on shares of Suncor Energy in a report on Monday, January 6th. Raymond James set a $48.00 price objective on Suncor Energy and gave the company a “buy” rating in a research note on Saturday, November 2nd. National Bank Financial cut Suncor Energy from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, October 1st. Finally, ValuEngine raised shares of Suncor Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $44.92.
Suncor Energy Company Profile
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, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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