Suncor Energy Inc. (NYSE:SU) Sees Significant Decline in Short Interest

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

Suncor Energy Stock Performance

Shares of NYSE SU traded down $0.03 during trading hours on Friday, reaching $39.41. The stock had a trading volume of 2,564,634 shares, compared to its average volume of 3,993,987. The business's fifty day moving average is $36.44 and its two-hundred day moving average is $33.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. The company has a market cap of $50.73 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 3.47 and a beta of 1.13. Suncor Energy has a twelve month low of $27.59 and a twelve month high of $39.63.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 16.08% and a net margin of 16.33%. During the same period in the prior year, the company posted $1.33 earnings per share. As a group, research analysts expect that Suncor Energy will post 3.78 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a dividend of $0.406 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Friday, March 1st. Suncor Energy's dividend payout ratio is currently 34.26%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Johnson Financial Group Inc. bought a new stake in shares of Suncor Energy during the fourth quarter worth $25,000. Richardson Financial Services Inc. bought a new stake in shares of Suncor Energy during the fourth quarter worth $25,000. Arlington Trust Co LLC bought a new stake in shares of Suncor Energy during the third quarter worth $29,000. Optiver Holding B.V. bought a new stake in shares of Suncor Energy during the third quarter worth $29,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 313 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of research analyst reports. StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Friday, April 12th. Morgan Stanley upped their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

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.