Suncor Energy Inc. (NYSE:SU) Short Interest Update

Key Points

• Suncor Energy experienced a significant decrease in short interest, with a 61.3% drop in September, reducing the total to 10,630,000 shares.
• The company recently increased its quarterly dividend to $0.4135 per share, yielding 4.0%, and has a payout ratio of 51.08%.
• Suncor reported earnings of $0.51 per share for the last quarter, slightly above analyst expectations, with revenue of $8.81 billion, missing the estimated $11.56 billion.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 10,630,000 shares, a drop of 61.3% from the August 31st total of 27,470,000 shares. Approximately 0.9% of the company's shares are sold short. Based on an average daily volume of 4,020,000 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 4,020,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 0.9% of the company's shares are sold short.

Suncor Energy Trading Down 0.3%

NYSE SU traded down $0.12 during trading on Thursday, hitting $41.15. The stock had a trading volume of 1,911,809 shares, compared to its average volume of 4,618,368. The firm has a 50 day moving average price of $40.52 and a 200 day moving average price of $38.11. The company has a market capitalization of $49.75 billion, a PE ratio of 12.66, a PEG ratio of 3.39 and a beta of 0.78. Suncor Energy has a twelve month low of $30.79 and a twelve month high of $43.48. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

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 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. As a group, equities research analysts forecast 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 was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were issued a $0.4135 dividend. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.0%. Suncor Energy's dividend payout ratio (DPR) is 51.08%.

Institutional Investors Weigh In On Suncor Energy

Large investors have recently modified their holdings of the stock. Ascent Group LLC boosted its holdings in shares of Suncor Energy by 4.7% during the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer's stock worth $216,000 after buying an additional 260 shares during the period. IFP Advisors Inc boosted its stake in Suncor Energy by 27.6% during the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock worth $53,000 after acquiring an additional 309 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in Suncor Energy by 18.4% during the second quarter. Transamerica Financial Advisors LLC now owns 2,081 shares of the oil and gas producer's stock worth $78,000 after buying an additional 323 shares during the last quarter. Sagespring Wealth Partners LLC raised 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 purchasing an additional 332 shares during the last quarter. Finally, Winthrop Capital Management LLC raised 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 purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

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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