Short Interest in Suncor Energy Inc. (NYSE:SU) Decreases By 74.0%

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a large decline in short interest in December. As of December 15th, there was short interest totaling 8,143,255 shares, a decline of 74.0% from the November 30th total of 31,273,579 shares. Based on an average daily trading volume, of 6,042,780 shares, the short-interest ratio is presently 1.3 days. Approximately 0.7% of the shares of the stock are sold short. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,042,780 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds have recently made changes to their positions in SU. Acadian Asset Management LLC increased its holdings in shares of Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock worth $480,760,000 after buying an additional 12,318,559 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Suncor Energy by 38.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock worth $1,264,043,000 after purchasing an additional 9,378,552 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Suncor Energy by 85.5% during the 3rd quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock worth $649,350,000 after purchasing an additional 7,158,953 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Suncor Energy by 62.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock worth $557,682,000 after purchasing an additional 5,113,280 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock valued at $395,649,000 after buying an additional 2,406,000 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.2%

Shares of NYSE:SU traded up $0.08 during midday trading on Thursday, reaching $43.24. The company’s stock had a trading volume of 1,304,724 shares, compared to its average volume of 4,655,064. The firm has a market cap of $51.96 billion, a price-to-earnings ratio of 14.18 and a beta of 0.46. The business has a 50 day moving average price of $42.56 and a 200 day moving average price of $40.87. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $45.60. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.22. The firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same period in the prior year, the business posted $1.48 earnings per share. Research analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were issued a $0.60 dividend. The ex-dividend date was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a yield of 5.6%. Suncor Energy’s payout ratio is presently 56.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company started coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating on the stock. Wall Street Zen raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday. Finally, Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $65.00.

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.