Stock Traders Buy High Volume of Put Options on Suncor Energy (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of some unusual options trading on Wednesday. Traders purchased 28,315 put options on the company. This represents an increase of 2,998% compared to the average daily volume of 914 put options.

Institutional Trading of Suncor Energy

Institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in Suncor Energy in the 2nd quarter worth $2,448,000. Cetera Investment Advisers lifted its holdings in Suncor Energy by 8.2% in the 2nd quarter. Cetera Investment Advisers now owns 92,292 shares of the oil and gas producer’s stock worth $3,516,000 after buying an additional 7,015 shares in the last quarter. Chase Investment Counsel Corp lifted its holdings in Suncor Energy by 7.2% in the 2nd quarter. Chase Investment Counsel Corp now owns 12,666 shares of the oil and gas producer’s stock worth $482,000 after buying an additional 852 shares in the last quarter. Quarry LP raised its stake in shares of Suncor Energy by 73.0% in the 2nd quarter. Quarry LP now owns 51,678 shares of the oil and gas producer’s stock valued at $1,969,000 after purchasing an additional 21,806 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Suncor Energy by 52.8% in the 2nd quarter. NewEdge Advisors LLC now owns 39,593 shares of the oil and gas producer’s stock valued at $1,509,000 after purchasing an additional 13,674 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Down 0.7 %

SU stock opened at $36.98 on Thursday. The stock has a market capitalization of $47.39 billion, a P/E ratio of 8.24, a PEG ratio of 2.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. Suncor Energy has a one year low of $29.45 and a one year high of $41.94. The company has a 50 day moving average price of $38.93 and a two-hundred day moving average price of $38.32.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the previous year, the company earned $0.71 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that Suncor Energy will post 3.71 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.27%. Suncor Energy’s dividend payout ratio (DPR) is 35.86%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wolfe Research started coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank cut their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Raymond James upgraded Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $55.83.

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.