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

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

Analyst Upgrades and Downgrades

SU has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Trading Up 0.1 %

SU traded up $0.03 during trading on Friday, hitting $40.47. 4,973,907 shares of the stock traded hands, compared to its average volume of 4,273,767. The firm has a 50-day moving average of $38.34 and a 200 day moving average of $38.75. Suncor Energy has a 12-month low of $29.45 and a 12-month high of $41.94. The firm has a market capitalization of $51.06 billion, a P/E ratio of 8.85, a price-to-earnings-growth ratio of 2.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 35.29%.

Institutional Trading of Suncor Energy

Large investors have recently bought and sold shares of the company. Trust Co. of Vermont bought a new stake in shares of Suncor Energy during the second quarter valued at approximately $26,000. Eastern Bank purchased a new stake in shares of Suncor Energy during the 3rd quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in Suncor Energy during the second quarter valued at approximately $27,000. Richardson Financial Services Inc. raised its position in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy in the 2nd quarter worth $29,000. 67.37% of the stock is owned by institutional investors.

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.