Suncor Energy Inc. (NYSE:SU) Sees Large Growth in Short Interest

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 47,230,000 shares, an increase of 41.7% from the May 15th total of 33,330,000 shares. Based on an average daily trading volume, of 5,040,000 shares, the days-to-cover ratio is currently 9.4 days. Approximately 3.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Bank of America began coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating for the company. Finally, Wall Street Zen lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average target price of $64.67.

Institutional Investors Weigh In On Suncor Energy

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Suncor Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer's stock valued at $1,892,526,000 after acquiring an additional 323,714 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Suncor Energy by 0.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer's stock worth $865,885,000 after purchasing an additional 169,700 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Suncor Energy by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer's stock valued at $831,631,000 after purchasing an additional 209,447 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Suncor Energy by 3.0% during the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock worth $680,847,000 after buying an additional 552,018 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after buying an additional 6,311,513 shares during the period. Institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Down 0.7%

NYSE:SU traded down $0.29 during mid-day trading on Monday, hitting $40.67. 5,646,929 shares of the company's stock were exchanged, compared to its average volume of 4,475,632. Suncor Energy has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $49.73 billion, a P/E ratio of 11.79, a PEG ratio of 2.94 and a beta of 0.79. The company has a 50 day simple moving average of $35.68 and a 200-day simple moving average of $36.89.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter last year, the firm 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.4133 per share. The ex-dividend date is Wednesday, June 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a yield of 4.06%. Suncor Energy's payout ratio is presently 47.55%.

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.

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