Short Interest in Suncor Energy Inc. (NYSE:SU) Declines By 18.7%

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 15,870,000 shares, a decrease of 18.7% from the March 31st total of 19,530,000 shares. Based on an average daily volume of 4,350,000 shares, the days-to-cover ratio is currently 3.6 days. Approximately 1.2% of the company’s stock are sold short.

Suncor Energy Stock Performance

NYSE:SU traded up $0.29 during mid-day trading on Monday, hitting $39.70. 2,245,786 shares of the company’s stock traded hands, compared to its average volume of 4,242,836. Suncor Energy has a 12 month low of $27.59 and a 12 month high of $39.73. The firm has a market capitalization of $51.10 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 3.47 and a beta of 1.13. The firm has a 50 day moving average of $36.58 and a two-hundred day moving average of $33.95. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The business had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, equities analysts forecast that Suncor Energy will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were issued a $0.406 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 annualized dividend and a yield of 4.09%. Suncor Energy’s dividend payout ratio is 34.26%.

Institutional Trading of Suncor Energy

Institutional investors have recently modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in Suncor Energy in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. acquired a new stake in Suncor Energy during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new stake in shares of Suncor Energy in the 3rd quarter valued at approximately $29,000. Optiver Holding B.V. acquired a new position in shares of Suncor Energy in the 3rd quarter worth approximately $29,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 313 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley increased their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

About Suncor Energy

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.