Suncor Energy Inc. (NYSE:SU) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 17,587,066 shares, an increase of 35.7% from the September 15th total of 12,963,344 shares. Based on an average daily trading volume, of 5,639,553 shares, the short-interest ratio is currently 3.1 days. Currently, 1.1% of the company’s shares are sold short.
SU has been the subject of several recent research reports. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $39.00 to $40.00 in a report on Wednesday, June 22nd. Zacks Investment Research lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Citigroup Inc. upgraded shares of Suncor Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $44.00 in a report on Thursday, June 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $51.00 price target on shares of Suncor Energy in a report on Saturday, June 25th. Finally, Scotiabank restated an “outperform” rating and issued a $38.00 price target on shares of Suncor Energy in a report on Sunday, July 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Suncor Energy presently has a consensus rating of “Buy” and an average price target of $39.16.
Shares of Suncor Energy (NYSE:SU) opened at 28.43 on Monday. The stock has a 50 day moving average of $27.20 and a 200 day moving average of $27.41. Suncor Energy has a 12-month low of $18.71 and a 12-month high of $30.70. The stock’s market capitalization is $47.32 billion.
Suncor Energy (NYSE:SU) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.15. Suncor Energy had a negative net margin of 11.29% and a negative return on equity of 1.59%. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities research analysts anticipate that Suncor Energy will post ($0.35) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Tuesday, September 6th were paid a $0.2194 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Thursday, September 1st. Suncor Energy’s payout ratio is -60.54%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cohen & Steers Inc. raised its position in Suncor Energy by 25,557.6% in the second quarter. Cohen & Steers Inc. now owns 13,218,799 shares of the company’s stock valued at $158,463,000 after buying an additional 13,167,279 shares during the last quarter. Capital Research Global Investors increased its position in shares of Suncor Energy by 12.9% in the second quarter. Capital Research Global Investors now owns 70,432,422 shares of the company’s stock worth $1,953,867,000 after buying an additional 8,049,944 shares in the last quarter. FMR LLC increased its position in shares of Suncor Energy by 8.8% in the second quarter. FMR LLC now owns 88,848,770 shares of the company’s stock worth $2,464,755,000 after buying an additional 7,159,007 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Suncor Energy by 292.1% in the second quarter. BlackRock Advisors LLC now owns 8,889,630 shares of the company’s stock worth $246,509,000 after buying an additional 6,622,549 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Suncor Energy during the second quarter worth about $178,847,000. 64.08% of the stock is owned by institutional investors and hedge funds.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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