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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 11,840,000 shares, a decline of 15.7% from the June 30th total of 14,040,000 shares. Based on an average daily volume of 4,730,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 0.9% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

SU has been the subject of a number of analyst reports. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank cut their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

Institutional Investors Weigh In On Suncor Energy

Large investors have recently bought and sold shares of the business. Johnson Financial Group Inc. bought a new position in shares of Suncor Energy in the fourth quarter worth about $25,000. Richardson Financial Services Inc. bought a new position in Suncor Energy in the 4th quarter worth approximately $25,000. Trust Co. of Vermont acquired a new position in shares of Suncor Energy during the second quarter worth approximately $26,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $27,000. Finally, Ridgewood Investments LLC acquired a new stake in Suncor Energy in the 2nd quarter worth $29,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Up 0.3 %

NYSE SU traded up $0.12 during trading on Tuesday, reaching $38.41. 2,611,322 shares of the company’s stock were exchanged, compared to its average volume of 4,465,274. The firm has a market capitalization of $49.22 billion, a PE ratio of 8.57, a P/E/G ratio of 3.50 and a beta of 1.12. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.50. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $38.42 and its 200-day simple moving average is $36.68.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. Sell-side analysts predict that Suncor Energy will post 3.67 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.63%.

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.