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

Suncor Energy Inc. (NYSE:SUGet Free Report) (TSE:SU) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 28,315 put options on the company. This represents an increase of 2,998% compared to the average volume of 914 put options.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SU. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Friday, December 20th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Get Our Latest Report on Suncor Energy

Institutional Trading of Suncor Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SU. The Manufacturers Life Insurance Company lifted its holdings in shares of Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after buying an additional 366,432 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Suncor Energy by 1.8% in the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after acquiring an additional 333,440 shares during the period. CIBC Asset Management Inc grew its position in shares of Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after acquiring an additional 180,533 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Down 0.1 %

Shares of NYSE:SU opened at $35.16 on Friday. Suncor Energy has a 52 week low of $31.03 and a 52 week high of $41.94. The company’s 50 day moving average is $38.37 and its two-hundred day moving average is $38.49. The company has a market cap of $44.24 billion, a PE ratio of 7.66, a P/E/G ratio of 2.43 and a beta of 1.11. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.4089 per share. This is a boost 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 yield of 4.65%. Suncor Energy’s payout ratio is presently 36.60%.

Suncor Energy Company Profile

(Get Free Report)

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.

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