Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 38,470,000 shares, a decline of 46.7% from the February 29th total of 72,140,000 shares. Currently, 3.0% of the company's stock are sold short. Based on an average daily volume of 4,270,000 shares, the days-to-cover ratio is presently 9.0 days.
Institutional Investors Weigh In On Suncor Energy
Several hedge funds have recently modified their holdings of the stock. Sanders Capital LLC increased its position in Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer's stock worth $1,836,470,000 after purchasing an additional 1,568,629 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Suncor Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 50,534,957 shares of the oil and gas producer's stock valued at $1,619,140,000 after acquiring an additional 155,343 shares during the last quarter. TD Asset Management Inc grew its holdings in Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer's stock valued at $1,032,453,000 after buying an additional 4,612,764 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Suncor Energy by 8.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer's stock valued at $717,210,000 after buying an additional 1,725,969 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in Suncor Energy by 0.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 20,530,994 shares of the oil and gas producer's stock valued at $657,772,000 after buying an additional 182,289 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.
Suncor Energy Price Performance
Suncor Energy stock traded up $0.43 during trading hours on Thursday, hitting $36.91. 2,371,032 shares of the company traded hands, compared to its average volume of 4,318,097. Suncor Energy has a 1-year low of $27.59 and a 1-year high of $36.97. The firm has a market cap of $47.54 billion, a P/E ratio of 7.85, a P/E/G ratio of 3.39 and a beta of 1.12. The firm's 50-day simple moving average is $33.76 and its two-hundred day simple moving average is $33.24. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same period in the prior year, the business earned $1.33 earnings per share. As a group, analysts forecast that Suncor Energy will post 3.58 earnings per share for the current fiscal year.
Suncor Energy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were issued a dividend of $0.406 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.40%. This is an increase from Suncor Energy's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 1st. Suncor Energy's dividend payout ratio is currently 34.26%.
Wall Street Analyst Weigh In
Separately, Morgan Stanley boosted their price target on Suncor Energy from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $52.00.
Check Out Our Latest Analysis on Suncor Energy
Suncor Energy Company Profile
(
Get Free Report)
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.
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