Traders Buy Large Volume of Call Options on Suncor Energy (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of unusually large options trading activity on Monday. Investors bought 11,711 call options on the company. This represents an increase of 70% compared to the average daily volume of 6,909 call options.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SU shares. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, December 26th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Institutional Trading of Suncor Energy

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Suncor Energy by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after buying an additional 366,432 shares during the period. Toronto Dominion Bank boosted its stake in shares of Suncor Energy by 1.8% in the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after buying an additional 333,440 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after acquiring an additional 180,533 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Up 0.1 %

Suncor Energy stock opened at $39.41 on Tuesday. Suncor Energy has a fifty-two week low of $31.03 and a fifty-two week high of $41.94. The company has a market cap of $49.05 billion, a PE ratio of 8.59, a PEG ratio of 2.43 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The business’s 50-day simple moving average is $38.04 and its two-hundred day simple moving average is $38.49.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. The ex-dividend date was Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.15%. Suncor Energy’s dividend payout ratio (DPR) is currently 35.08%.

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.