Suncor Energy Inc. (NYSE:SU) Short Interest Down 15.7% in July

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

Institutional Trading of Suncor Energy

Hedge funds have recently bought and sold shares of the stock. Sanders Capital LLC grew its stake in shares of Suncor Energy by 2.8% during the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after acquiring an additional 1,568,629 shares during the period. Vanguard Group Inc. lifted its holdings in Suncor Energy by 1.4% during the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock valued at $1,890,768,000 after purchasing an additional 691,497 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock worth $1,032,453,000 after purchasing an additional 4,612,764 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after purchasing an additional 1,725,969 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Suncor Energy by 4.1% in the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after purchasing an additional 868,475 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SU. The Goldman Sachs Group lifted their price objective on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. TD Securities upped their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Raymond James raised shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective on the stock. Finally, StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $38.50 on Monday. The firm’s 50 day moving average price is $38.46 and its 200-day moving average price is $36.64. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $49.34 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 3.50 and a beta of 1.12. Suncor Energy has a twelve month low of $29.45 and a twelve month high of $41.50.

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

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were issued a $0.395 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.10%. Suncor Energy’s dividend payout ratio is currently 35.63%.

About Suncor Energy

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.