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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of unusually large options trading activity on Monday. Stock traders acquired 11,711 call options on the stock. This is an increase of approximately 70% compared to the typical daily volume of 6,909 call options.

Suncor Energy Trading Up 1.2 %

SU opened at $39.86 on Wednesday. The firm’s fifty day simple moving average is $38.07 and its 200 day simple moving average is $38.50. The stock has a market capitalization of $49.61 billion, a P/E ratio of 8.68, a P/E/G ratio of 2.43 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 has a 12 month low of $31.03 and a 12 month high of $41.94.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were paid a $0.4089 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.10%. Suncor Energy’s dividend payout ratio (DPR) is currently 35.08%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Eastern Bank acquired a new position in Suncor Energy during the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its position in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 328 shares in the last quarter. Waldron Private Wealth LLC acquired a new position in Suncor Energy during the third quarter worth $49,000. Transamerica Financial Advisors Inc. grew its position 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 in the last quarter. Finally, Mattson Financial Services LLC acquired a new stake in Suncor Energy in the 2nd quarter valued at $82,000. 67.37% of the stock is currently owned by institutional investors.

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.