Suncor Energy Target of Unusually Large Options Trading (NYSE:SU)

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

Suncor Energy Price Performance

Shares of NYSE SU opened at $38.74 on Thursday. The business has a 50 day simple moving average of $37.69 and a 200-day simple moving average of $38.54. Suncor Energy has a twelve month low of $31.25 and a twelve month high of $41.94. The company has a market capitalization of $48.21 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 2.89 and a beta of 1.12. 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 (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 15.19% and a return on equity of 15.67%. As a group, equities research analysts expect that Suncor Energy will post 3.7 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently announced 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 4.22%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is currently 35.08%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Suncor Energy by 66.0% during the second quarter. AQR Capital Management LLC now owns 20,605 shares of the oil and gas producer’s stock valued at $785,000 after acquiring an additional 8,194 shares during the period. Cetera Investment Advisers boosted its stake in Suncor Energy by 8.2% during the 2nd quarter. Cetera Investment Advisers now owns 92,292 shares of the oil and gas producer’s stock valued at $3,516,000 after purchasing an additional 7,015 shares during the period. Sanctuary Advisors LLC bought a new position in Suncor Energy in the 2nd quarter worth about $2,448,000. Aprio Wealth Management LLC acquired a new stake in shares of Suncor Energy in the third quarter valued at approximately $215,000. Finally, Atomi Financial Group Inc. raised its holdings in shares of Suncor Energy by 3.2% during the third quarter. Atomi Financial Group Inc. now owns 13,464 shares of the oil and gas producer’s stock valued at $497,000 after buying an additional 416 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.