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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 28,315 put options on the company. This is an increase of approximately 2,998% compared to the typical daily volume of 914 put options.

Analyst Upgrades and Downgrades

SU has been the subject of several research analyst reports. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Wolfe Research began coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective on the stock. Finally, Scotiabank dropped their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $38.65 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The business’s 50 day moving average price is $39.05 and its 200 day moving average price is $38.72. The company has a market cap of $49.53 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 2.72 and a beta of 1.12. Suncor Energy has a one year low of $29.45 and a one year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts predict that Suncor Energy will post 3.71 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.395 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.09%. Suncor Energy’s dividend payout ratio (DPR) is 35.86%.

Institutional Trading of Suncor Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in SU. Vanguard Group Inc. grew its position in Suncor Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock worth $1,890,768,000 after acquiring an additional 691,497 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after purchasing an additional 1,209,073 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Suncor Energy by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after purchasing an additional 366,432 shares during the period. 1832 Asset Management L.P. increased its position in shares of Suncor Energy by 4.1% during the 1st quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after purchasing an additional 868,475 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Suncor Energy by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after buying an additional 1,031,542 shares during the period. Institutional investors and hedge funds 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.