Suncor Energy Inc. (NYSE:SU) Short Interest Down 45.7% in December

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw a large drop in short interest in December. As of December 15th, there was short interest totalling 24,910,000 shares, a drop of 45.7% from the November 30th total of 45,850,000 shares. Based on an average daily trading volume, of 3,880,000 shares, the short-interest ratio is presently 6.4 days. Approximately 2.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SU. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a research report on Friday, December 20th. StockNews.com cut Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday. Morgan Stanley cut Suncor Energy from an "overweight" rating to an "equal weight" rating in a report on Monday, December 16th. Finally, Desjardins upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in shares of Suncor Energy by 16.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 77,434 shares of the oil and gas producer's stock valued at $2,950,000 after purchasing an additional 11,040 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Suncor Energy by 57.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 49,000 shares of the oil and gas producer's stock worth $1,867,000 after acquiring an additional 17,884 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $207,000. Arkadios Wealth Advisors purchased a new position in shares of Suncor Energy in the second quarter valued at $709,000. Finally, Signaturefd LLC grew its holdings in shares of Suncor Energy by 1.5% in the second quarter. Signaturefd LLC now owns 26,530 shares of the oil and gas producer's stock valued at $1,011,000 after purchasing an additional 402 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of SU stock traded up $0.10 during trading hours on Friday, reaching $35.26. 3,771,526 shares of the company traded hands, compared to its average volume of 4,302,524. The firm has a 50-day moving average price of $38.29 and a 200 day moving average price of $38.47. The company has a market cap of $44.36 billion, a P/E ratio of 7.68, a P/E/G ratio of 2.43 and a beta of 1.11. Suncor Energy has a 12-month low of $31.03 and a 12-month high of $41.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were given a $0.4089 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.64%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, December 3rd. Suncor Energy's payout ratio is presently 36.60%.

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.