Traders Buy Large Volume of Suncor Energy Put Options (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of unusually large options trading activity on Wednesday. Investors purchased 28,315 put options on the stock. This represents an increase of approximately 2,998% compared to the typical daily volume of 914 put options.

Suncor Energy Price Performance

Suncor Energy stock opened at $37.31 on Thursday. The firm has a market capitalization of $47.81 billion, a P/E ratio of 8.31, a PEG ratio of 3.58 and a beta of 1.11. Suncor Energy has a 1 year low of $28.26 and a 1 year high of $41.50. The business has a 50-day moving average of $38.79 and a 200-day moving average of $35.62. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. On average, equities analysts anticipate that Suncor Energy will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s dividend payout ratio is currently 35.19%.

Wall Street Analysts Forecast Growth

SU has been the subject of several research reports. The Goldman Sachs Group raised their target price on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Securities lifted their price objective on Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Morgan Stanley lifted their price objective on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday. Finally, Raymond James raised Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Institutional Investors Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Johnson Financial Group Inc. acquired a new position in Suncor Energy in the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy in the 4th quarter valued at $25,000. Benjamin F. Edwards & Company Inc. grew its holdings in Suncor Energy by 43.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 313 shares in the last quarter. Adirondack Trust Co. grew its holdings in Suncor Energy by 45.6% in the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 313 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Suncor Energy in the 4th quarter valued at $38,000. Institutional investors own 67.37% of the company’s stock.

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.