Suncor Energy Target of Unusually High Options Trading (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of some unusual options trading on Wednesday. Investors purchased 28,315 put options on the stock. This represents an increase of 2,998% compared to the typical daily volume of 914 put options.

Suncor Energy Stock Up 0.5 %

Shares of NYSE SU opened at $37.71 on Friday. The stock has a market cap of $46.65 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. Suncor Energy has a 52-week low of $33.81 and a 52-week high of $41.95. The business has a 50-day moving average price of $38.26 and a 200 day moving average price of $38.17. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities research analysts forecast that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be paid a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.23%. Suncor Energy’s dividend payout ratio is presently 45.51%.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. HHM Wealth Advisors LLC raised its stake in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Suncor Energy in the fourth quarter valued at approximately $35,000. Lee Danner & Bass Inc. purchased a new stake in shares of Suncor Energy during the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC acquired a new stake in shares of Suncor Energy during the fourth quarter worth $39,000. Finally, Covestor Ltd grew its position in Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 256 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Finally, Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.00.

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.