Suncor Energy Inc. (NYSE:SU) Short Interest Up 141.3% in November

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 45,850,000 shares, a growth of 141.3% from the November 15th total of 19,000,000 shares. Based on an average daily trading volume, of 3,860,000 shares, the short-interest ratio is presently 11.9 days. Approximately 3.6% of the company’s shares are short sold.

Institutional Trading of Suncor Energy

Hedge funds have recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Suncor Energy by 15.7% during the 2nd quarter. CWM LLC now owns 4,418 shares of the oil and gas producer’s stock valued at $168,000 after purchasing an additional 598 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Suncor Energy by 20.1% during the second quarter. Sequoia Financial Advisors LLC now owns 16,261 shares of the oil and gas producer’s stock worth $620,000 after acquiring an additional 2,723 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Suncor Energy during the second quarter worth about $43,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Suncor Energy by 8.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 60,357 shares of the oil and gas producer’s stock valued at $2,300,000 after acquiring an additional 4,721 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Suncor Energy by 90.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after purchasing an additional 3,951,287 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Down 1.1 %

Suncor Energy stock traded down $0.41 during midday trading on Friday, hitting $36.78. 5,165,694 shares of the company’s stock were exchanged, compared to its average volume of 4,320,619. Suncor Energy has a 12 month low of $30.89 and a 12 month high of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company has a market cap of $46.28 billion, a PE ratio of 8.01, a P/E/G ratio of 2.52 and a beta of 1.11. The firm has a 50-day moving average of $39.16 and a two-hundred day moving average of $38.74.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This represents a $1.64 annualized dividend and a yield of 4.45%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 36.82%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SU. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average target price of $56.40.

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.