Traders Purchase Large Volume of Suncor Energy Put Options (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw some unusual options trading on Wednesday. Traders bought 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

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its holdings in shares of Suncor Energy by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer’s stock valued at $146,948,000 after purchasing an additional 29,014 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $206,000. Synovus Financial Corp boosted its holdings in shares of Suncor Energy by 11.7% in the 3rd quarter. Synovus Financial Corp now owns 81,371 shares of the oil and gas producer’s stock valued at $3,004,000 after purchasing an additional 8,519 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Suncor Energy by 59.6% in the 3rd quarter. Tidal Investments LLC now owns 21,971 shares of the oil and gas producer’s stock valued at $811,000 after purchasing an additional 8,207 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $104,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Trading Up 0.1 %

Shares of NYSE:SU opened at $39.56 on Thursday. The company has a market capitalization of $49.77 billion, a P/E ratio of 8.62, a P/E/G ratio of 2.69 and a beta of 1.12. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The business’s 50 day simple moving average is $39.03 and its 200 day simple moving average is $38.86.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is currently 35.29%.

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.