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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 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.

Hedge Funds Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eastern Bank purchased a new stake in shares of Suncor Energy in the third quarter valued at about $25,000. Richardson Financial Services Inc. increased its position in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares during the period. Waldron Private Wealth LLC acquired a new stake in Suncor Energy during the 3rd quarter worth approximately $49,000. Transamerica Financial Advisors Inc. lifted its position in Suncor Energy by 2,311.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 1,895 shares during the period. Finally, Mattson Financial Services LLC purchased a new position in shares of Suncor Energy in the 2nd quarter valued at approximately $82,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of SU opened at $38.29 on Friday. The stock has a 50 day moving average price of $37.98 and a 200 day moving average price of $38.45. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. Suncor Energy has a 52-week low of $31.03 and a 52-week high of $41.94.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were issued a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.27%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is 36.60%.

Wall Street Analysts Forecast Growth

SU has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a report on Tuesday. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, December 26th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.