Suncor Energy Inc. (SU) Short Interest Up 46.1% in February
Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 11,368,247 shares, an increase of 46.1% from the February 15th total of 7,779,731 shares. Based on an average trading volume of 3,302,475 shares, the days-to-cover ratio is presently 3.4 days.
Shares of SU opened at $33.76 on Friday. The firm has a market capitalization of $53.51 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.32 and a beta of 1.17. Suncor Energy has a fifty-two week low of $25.81 and a fifty-two week high of $42.55. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 0.32.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, February 5th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.11). The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $8.13 billion. Suncor Energy had a net margin of 8.48% and a return on equity of 9.50%. Sell-side analysts forecast that Suncor Energy will post 1.85 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital International Investors lifted its holdings in shares of Suncor Energy by 680.0% during the 3rd quarter. Capital International Investors now owns 35,098,879 shares of the oil and gas producer’s stock valued at $1,358,140,000 after acquiring an additional 30,599,078 shares in the last quarter. Norges Bank acquired a new position in shares of Suncor Energy during the 4th quarter valued at $467,575,000. Bank of New York Mellon Corp lifted its holdings in shares of Suncor Energy by 19,812.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,430,116 shares of the oil and gas producer’s stock valued at $326,160,000 after acquiring an additional 8,387,781 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Suncor Energy by 71.0% during the 4th quarter. Mackenzie Financial Corp now owns 14,798,181 shares of the oil and gas producer’s stock valued at $413,905,000 after acquiring an additional 6,144,568 shares in the last quarter. Finally, PointState Capital LP lifted its holdings in shares of Suncor Energy by 1,705.8% during the 3rd quarter. PointState Capital LP now owns 3,384,128 shares of the oil and gas producer’s stock valued at $130,932,000 after acquiring an additional 3,196,728 shares in the last quarter. Institutional investors own 65.11% of the company’s stock.
A number of analysts recently issued reports on the stock. GMP Securities restated a “hold” rating and set a $47.00 target price on shares of Suncor Energy in a research report on Thursday, February 7th. Credit Suisse Group assumed coverage on shares of Suncor Energy in a research report on Monday, January 28th. They set a “neutral” rating and a $32.02 target price on the stock. Raymond James restated a “buy” rating on shares of Suncor Energy in a research report on Monday, December 17th. TheStreet lowered shares of Suncor Energy from a “b-” rating to a “c+” rating in a report on Monday, February 11th. Finally, Mizuho reiterated an “average” rating and issued a $52.00 price target on shares of Suncor Energy in a report on Monday, December 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $49.12.
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About Suncor Energy
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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