Suncor Energy Inc. (NYSE:SU) Short Interest Down 70.1% in September

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 9,610,000 shares, a decline of 70.1% from the September 15th total of 32,170,000 shares. Based on an average daily volume of 3,900,000 shares, the short-interest ratio is currently 2.5 days. Approximately 0.8% of the company’s shares are sold short.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SU. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Scotiabank lowered their price objective on shares of 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. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. Wolfe Research started coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Hedge Funds Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently modified their holdings of SU. Cullen Investment Group LTD. increased its holdings in Suncor Energy by 0.8% during the third quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after buying an additional 262 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in 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 valued at $186,000 after purchasing an additional 281 shares in the last quarter. Adirondack Trust Co. boosted its position in shares of 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 worth $34,000 after purchasing an additional 313 shares during the period. Independence Bank of Kentucky increased its stake in shares of 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 worth $186,000 after purchasing an additional 315 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in 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 worth $121,000 after buying an additional 325 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Up 2.4 %

NYSE:SU traded up $0.96 during trading hours on Thursday, reaching $40.47. 3,228,798 shares of the company traded hands, compared to its average volume of 4,396,424. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.94. The stock has a market capitalization of $51.25 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.69 and a beta of 1.12. The business’s 50-day moving average price is $38.85 and its two-hundred day moving average price is $38.62. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

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

Suncor Energy Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 3.90%. Suncor Energy’s payout ratio is 36.08%.

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.