Investors Purchase Large 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. Traders 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.

Institutional Trading of Suncor Energy

Several hedge funds and other institutional investors have recently made changes to their positions in SU. Sanctuary Advisors LLC boosted its holdings in Suncor Energy by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock worth $3,035,000 after acquiring an additional 20,081 shares in the last quarter. Intech Investment Management LLC boosted its stake in Suncor Energy by 1,345.8% in the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after purchasing an additional 436,016 shares in the last quarter. Sage Investment Counsel LLC purchased a new stake in Suncor Energy during the 4th quarter valued at about $300,000. J.W. Cole Advisors Inc. bought a new stake in Suncor Energy during the 4th quarter valued at about $236,000. Finally, Bank of New York Mellon Corp raised its holdings in Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock worth $110,017,000 after buying an additional 1,573,726 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

Shares of SU stock opened at $34.81 on Friday. The business’s fifty day moving average is $38.28 and its 200 day moving average is $38.46. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market cap of $43.21 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 2.94 and a beta of 1.12. Suncor Energy has a twelve month low of $33.81 and a twelve month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Research analysts expect that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.59%. Suncor Energy’s dividend payout ratio is currently 45.22%.

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.