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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw unusually large options trading on Wednesday. Stock traders purchased 28,315 put options on the stock. This represents an increase of approximately 2,998% compared to the typical daily volume of 914 put options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SU shares. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a 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 upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently bought and sold shares of SU. The Manufacturers Life Insurance Company lifted its stake in shares of Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after purchasing an additional 1,209,073 shares during the period. Toronto Dominion Bank lifted its stake in shares of Suncor Energy by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after purchasing an additional 333,440 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after purchasing an additional 180,533 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Suncor Energy by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 7,643,418 shares of the oil and gas producer’s stock worth $291,308,000 after purchasing an additional 329,373 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

SU stock opened at $39.37 on Friday. Suncor Energy has a 1 year low of $31.25 and a 1 year high of $41.94. 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 stock’s 50 day moving average price is $38.10 and its 200 day moving average price is $38.53. The firm has a market cap of $49.00 billion, a P/E ratio of 8.58, a PEG ratio of 3.42 and a beta of 1.12.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were paid a $0.4089 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is presently 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.