Investors Buy High Volume of Suncor Energy Put Options (NYSE:SU)

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

Institutional Trading of Suncor Energy

Several hedge funds have recently bought and sold shares of SU. Trust Co. of Vermont bought a new position in shares of Suncor Energy in the second quarter worth about $26,000. Summit Securities Group LLC bought a new position in Suncor Energy in the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. grew its holdings in Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 328 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Suncor Energy during the second quarter valued at approximately $29,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Suncor Energy in the fourth quarter worth $25,000. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

SU has been the topic of a number of recent analyst reports. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Wolfe Research initiated coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $54.86.

Suncor Energy Trading Down 2.2 %

NYSE:SU opened at $37.99 on Friday. The company has a 50 day simple moving average of $39.20 and a two-hundred day simple moving average of $38.10. The company has a market cap of $48.27 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 2.73 and a beta of 1.13. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.30 billion. During the same period in the previous year, the company posted $0.71 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts forecast that Suncor Energy will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.16%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.63%.

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.