Suncor Energy Inc. (NYSE:SU) Short Interest Down 22.9% in January

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 6,349,777 shares, a drop of 22.9% from the January 15th total of 8,234,926 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 4,309,918 shares, the short-interest ratio is presently 1.5 days. Based on an average trading volume of 4,309,918 shares, the short-interest ratio is presently 1.5 days. Currently, 0.5% of the shares of the company are sold short.

Suncor Energy Price Performance

Suncor Energy stock traded down $0.89 during midday trading on Tuesday, reaching $55.10. The company had a trading volume of 3,261,682 shares, compared to its average volume of 5,367,748. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. Suncor Energy has a 12-month low of $30.79 and a 12-month high of $56.46. The company has a market capitalization of $65.57 billion, a P/E ratio of 15.88 and a beta of 0.45. The firm’s fifty day simple moving average is $48.20 and its 200-day simple moving average is $43.74.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter last year, the business posted $1.25 earnings per share. As a group, equities analysts anticipate that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 49.57%.

Institutional Trading of Suncor Energy

Several hedge funds have recently made changes to their positions in SU. AQR Capital Management LLC grew its holdings in shares of Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after acquiring an additional 1,254 shares in the last quarter. IFP Advisors Inc increased its position in shares of 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 during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Suncor Energy by 17.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 496,768 shares of the oil and gas producer’s stock valued at $18,793,000 after acquiring an additional 72,824 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Suncor Energy by 7.9% in the second quarter. Yousif Capital Management LLC now owns 17,720 shares of the oil and gas producer’s stock valued at $664,000 after purchasing an additional 1,295 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada upped their price objective on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and raised their target price for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.