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

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. 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 data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Trading Down 0.1 %

NYSE:SU opened at $38.29 on Thursday. Suncor Energy has a 12 month low of $31.03 and a 12 month high of $41.94. The business’s 50-day moving average is $37.97 and its two-hundred day moving average is $38.46. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a market capitalization of $47.94 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a $0.4089 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.27%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is currently 36.60%.

Institutional Trading of Suncor Energy

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC boosted its stake in Suncor Energy by 32.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after acquiring an additional 20,081 shares during the last quarter. Intech Investment Management LLC grew its stake in Suncor Energy by 1,345.8% in the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after purchasing an additional 436,016 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Suncor Energy during the third quarter valued at approximately $1,376,000. DRW Securities LLC bought a new position in Suncor Energy during the 3rd quarter worth approximately $1,151,000. Finally, Mediolanum International Funds Ltd grew its position in shares of Suncor Energy by 22.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock worth $9,245,000 after acquiring an additional 46,155 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.