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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw unusually large options trading on Wednesday. Stock investors bought 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.

Hedge Funds Weigh In On Suncor Energy

Hedge funds have recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new position in shares of Suncor Energy during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new stake in Suncor Energy in the fourth quarter valued at $25,000. Trust Co. of Vermont bought a new stake in Suncor Energy in the second quarter valued at $26,000. Benjamin F. Edwards & Company Inc. increased its position in Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 313 shares during the period. Finally, Adirondack Trust Co. lifted its position in shares of Suncor Energy by 45.6% in the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.2 %

NYSE SU opened at $38.48 on Friday. The firm has a market cap of $49.31 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 3.61 and a beta of 1.12. Suncor Energy has a 1-year low of $29.45 and a 1-year high of $41.50. The stock has a 50-day moving average of $38.49 and a 200-day moving average of $36.55. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $8.64 billion. As a group, sell-side analysts forecast that Suncor Energy will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were issued a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.63%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of research reports. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research initiated coverage on Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. Morgan Stanley increased their price objective on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Finally, TD Securities upped their target price on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $54.75.

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.