Investors Purchase 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 activity on Wednesday. Traders acquired 28,315 put options on the stock. This is an increase of approximately 2,998% compared to the typical volume of 914 put options.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research note on Friday, December 20th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Eastern Bank acquired a new stake in Suncor Energy during the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. increased its position in shares of Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy during the second quarter worth $29,000. Waldron Private Wealth LLC acquired a new stake in shares of Suncor Energy in the third quarter valued at $49,000. Finally, Transamerica Financial Advisors Inc. boosted its holdings in Suncor Energy by 2,311.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 1,895 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

SU opened at $35.18 on Thursday. The stock’s 50-day moving average price is $38.51 and its 200 day moving average price is $38.54. Suncor Energy has a 12-month low of $31.03 and a 12-month high of $41.94. The firm has a market cap of $44.26 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 2.43 and a beta of 1.11. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 36.60%.

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.