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

Key Points

• Suncor Energy Inc. experienced a 175.1% increase in short interest in August, rising to 25,750,000 shares from 9,360,000 shares at the end of July.
• The company also announced a quarterly dividend increase to $0.4135 per share, representing a 4.1% yield, set to be paid on September 25th.
• Suncor reported quarterly earnings of $0.51 per share, exceeding expectations, but revenue fell short at $8.81 billion compared to a projected $11.56 billion.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw a significant increase in short interest in August. As of August 15th, there was short interest totaling 25,750,000 shares, anincreaseof175.1% from the July 31st total of 9,360,000 shares. Based on an average daily volume of 4,400,000 shares, the days-to-cover ratio is presently 5.9 days. Currently,2.1% of the shares of the company are sold short. Currently,2.1% of the shares of the company are sold short. Based on an average daily volume of 4,400,000 shares, the days-to-cover ratio is presently 5.9 days.

Suncor Energy Trading Down 1.5%

NYSE:SU opened at $40.67 on Thursday. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $41.76. The stock has a market cap of $49.53 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 3.56 and a beta of 0.87. The business has a fifty day moving average of $39.29 and a 200-day moving average of $37.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same quarter in the prior year, the business posted $1.27 earnings per share. Equities analysts predict that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.4135 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.1%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 4th. Suncor Energy's payout ratio is currently 51.08%.

Institutional Trading of Suncor Energy

Several institutional investors have recently modified their holdings of the company. Ascent Group LLC lifted its holdings in shares of Suncor Energy by 4.7% in the second quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer's stock valued at $216,000 after buying an additional 260 shares during the period. IFP Advisors Inc lifted its holdings in shares of Suncor Energy by 27.6% in the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock valued at $53,000 after buying an additional 309 shares during the period. Transamerica Financial Advisors LLC lifted its holdings in shares of Suncor Energy by 18.4% in the second quarter. Transamerica Financial Advisors LLC now owns 2,081 shares of the oil and gas producer's stock valued at $78,000 after buying an additional 323 shares during the period. Sagespring Wealth Partners LLC lifted its holdings in shares of Suncor Energy by 5.8% in the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock valued at $235,000 after buying an additional 332 shares during the period. Finally, Winthrop Capital Management LLC lifted its holdings in shares of Suncor Energy by 2.6% in the first quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock valued at $529,000 after buying an additional 352 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

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.

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