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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 13,360,000 shares, a drop of 73.7% from the February 28th total of 50,780,000 shares. Based on an average daily volume of 4,680,000 shares, the short-interest ratio is presently 2.9 days. Currently, 1.1% of the shares of the stock are sold short.

Analyst Ratings Changes

Several research analysts recently weighed in on SU shares. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, March 22nd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

Suncor Energy Stock Performance

SU traded down $0.27 during trading on Friday, hitting $38.36. 2,789,133 shares of the stock were exchanged, compared to its average volume of 4,405,989. The firm has a market capitalization of $47.45 billion, a P/E ratio of 11.12, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy has a 1-year low of $33.81 and a 1-year high of $41.95. The stock has a fifty day moving average price of $38.13 and a two-hundred day moving average price of $38.16. 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) (TSE:SU) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, sell-side analysts predict that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were issued a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio is currently 45.51%.

Hedge Funds Weigh In On Suncor Energy

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its holdings in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares during the period. Principal Financial Group Inc. increased its stake in Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after buying an additional 2,767,043 shares during the period. Jupiter Asset Management Ltd. increased its stake in Suncor Energy by 2,061.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after buying an additional 2,325,503 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Suncor Energy by 500.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer’s stock worth $87,459,000 after acquiring an additional 2,044,680 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock valued at $133,250,000 after acquiring an additional 1,842,791 shares in 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.