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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw some unusual options trading activity on Wednesday. Traders bought 28,315 put options on the company. This is an increase of approximately 2,998% compared to the typical daily volume of 914 put options.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. Scotiabank lowered their price objective on shares of 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 raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Price Performance

Suncor Energy stock opened at $38.65 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. Suncor Energy has a 52-week low of $29.45 and a 52-week high of $41.94. The firm has a market cap of $48.77 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 2.69 and a beta of 1.12. The company’s 50 day moving average is $39.05 and its two-hundred day moving average is $38.72.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period last year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts expect that Suncor Energy will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s payout ratio is presently 37.59%.

Institutional Trading of Suncor Energy

A number of large investors have recently made changes to their positions in SU. Richardson Financial Services Inc. acquired a new position in Suncor Energy during the 4th quarter worth approximately $25,000. Trust Co. of Vermont purchased a new stake in shares of Suncor Energy during the 2nd quarter worth $26,000. Summit Securities Group LLC acquired a new position in shares of Suncor Energy during the second quarter worth $27,000. Ridgewood Investments LLC acquired a new position in shares of Suncor Energy during the second quarter worth $29,000. Finally, V Square Quantitative Management LLC purchased a new position in Suncor Energy in the fourth quarter valued at $38,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

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.