Suncor Energy Sees Unusually Large Options Volume (NYSE:SU)

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

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH increased its holdings in Suncor Energy by 9.2% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 20,096 shares of the oil and gas producer’s stock worth $742,000 after purchasing an additional 1,690 shares during the last quarter. Mattson Financial Services LLC bought a new position in Suncor Energy during the second quarter worth $82,000. Sanctuary Advisors LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at about $2,448,000. Cetera Investment Advisers boosted its stake in Suncor Energy by 8.2% in the second quarter. Cetera Investment Advisers now owns 92,292 shares of the oil and gas producer’s stock valued at $3,516,000 after acquiring an additional 7,015 shares during the period. Finally, Chase Investment Counsel Corp boosted its position in Suncor Energy by 7.2% during the 2nd quarter. Chase Investment Counsel Corp now owns 12,666 shares of the oil and gas producer’s stock valued at $482,000 after purchasing an additional 852 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $38.66 on Thursday. The firm has a 50 day simple moving average of $38.74 and a 200-day simple moving average of $38.49. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The firm has a market cap of $49.12 billion, a PE ratio of 8.61, a P/E/G ratio of 2.48 and a beta of 1.13. Suncor Energy has a 1-year low of $29.45 and a 1-year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued 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. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. Suncor Energy’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, equities analysts expect 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. Investors of record on Wednesday, September 4th were issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s payout ratio is 36.08%.

Analyst Upgrades and Downgrades

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

About Suncor Energy

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.