Short Interest in Suncor Energy Inc. (NYSE:SU) Drops By 20.2%

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 10,660,000 shares, a drop of 20.2% from the March 15th total of 13,360,000 shares. Based on an average daily volume of 5,090,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.9% of the company’s stock are sold short.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC lifted its stake in shares of Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 325 shares during the period. Hanson & Doremus Investment Management raised its holdings in Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in Suncor Energy by 97.6% in the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 405 shares during the period. Crowley Wealth Management Inc. purchased a new stake in Suncor Energy in the 4th quarter valued at approximately $35,000. Finally, Lee Danner & Bass Inc. acquired a new position in Suncor Energy during the 4th quarter worth approximately $36,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SU has been the subject of a number of analyst reports. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Bank of America began coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating for the company. Finally, Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Trading Up 2.0 %

Shares of Suncor Energy stock opened at $34.48 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company has a market capitalization of $42.66 billion, a P/E ratio of 10.00, a PEG ratio of 2.94 and a beta of 0.79. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $41.95. The company’s fifty day moving average is $36.67 and its two-hundred day moving average is $37.85.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Analysts forecast 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 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 45.51%.

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.