Investors Purchase Large 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. Stock investors purchased 28,315 put options on the stock. This is an increase of approximately 2,998% compared to the average volume of 914 put options.

Analyst Ratings Changes

A number of analysts recently commented on SU shares. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $39.55 on Friday. The firm’s 50 day simple moving average is $39.07 and its 200 day simple moving average is $38.87. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a market capitalization of $49.76 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 2.69 and a beta of 1.12. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.14%. Suncor Energy’s dividend payout ratio (DPR) is 35.29%.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Suncor Energy by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer’s stock worth $146,948,000 after buying an additional 29,014 shares during the period. Peapack Gladstone Financial Corp bought a new stake in shares of Suncor Energy in the third quarter worth about $206,000. Synovus Financial Corp raised its position in shares of Suncor Energy by 11.7% during the third quarter. Synovus Financial Corp now owns 81,371 shares of the oil and gas producer’s stock worth $3,004,000 after purchasing an additional 8,519 shares during the period. Tidal Investments LLC lifted its holdings in shares of Suncor Energy by 59.6% during the 3rd quarter. Tidal Investments LLC now owns 21,971 shares of the oil and gas producer’s stock valued at $811,000 after purchasing an additional 8,207 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Suncor Energy during the 3rd quarter worth approximately $104,000. 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.