Short Interest in Suncor Energy Inc. (NYSE:SU) Grows By 303.5%

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 33,330,000 shares, an increase of 303.5% from the April 30th total of 8,260,000 shares. Based on an average daily volume of 4,990,000 shares, the days-to-cover ratio is currently 6.7 days. Currently, 2.7% of the shares of the stock are sold short.

Institutional Trading of Suncor Energy

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer's stock valued at $2,421,000 after buying an additional 31,366 shares during the period. Sage Investment Counsel LLC purchased a new stake in Suncor Energy during the fourth quarter valued at about $300,000. J.W. Cole Advisors Inc. purchased a new stake in Suncor Energy during the fourth quarter valued at about $236,000. Bank of New York Mellon Corp boosted its position in Suncor Energy by 104.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock valued at $110,017,000 after buying an additional 1,573,726 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Suncor Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer's stock valued at $159,030,000 after acquiring an additional 99,669 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

NYSE:SU traded up $1.13 during midday trading on Monday, hitting $36.68. The company had a trading volume of 12,836,905 shares, compared to its average volume of 4,474,492. Suncor Energy has a 52-week low of $30.79 and a 52-week high of $41.95. The stock's fifty day moving average price is $35.27 and its 200-day moving average price is $37.06. The company has a market capitalization of $45.22 billion, a PE ratio of 10.63, a P/E/G ratio of 2.94 and a beta of 0.79. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The company had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same period in the previous year, the business earned $1.41 earnings per share. As a group, research analysts expect that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. This represents a $1.65 annualized dividend and a yield of 4.51%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, June 4th. Suncor Energy's dividend payout ratio is presently 45.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They issued a "neutral" rating on the stock. Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Finally, Tudor Pickering raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.67.

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.