Investors Purchase Large Volume of Put Options on Suncor Energy (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw unusually large options trading on Wednesday. Investors acquired 28,315 put options on the stock. This is an increase of approximately 2,998% compared to the average volume of 914 put options.

Analysts Set New Price Targets

Several research firms recently commented on SU. Wolfe Research assumed coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Scotiabank cut their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Price Performance

SU opened at $39.51 on Friday. The company has a fifty day moving average price of $38.77 and a two-hundred day moving average price of $38.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The firm has a market capitalization of $50.20 billion, a PE ratio of 8.80, a P/E/G ratio of 2.48 and a beta of 1.13. Suncor Energy has a 52 week low of $29.45 and a 52 week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same quarter last year, the firm earned $0.71 EPS. Suncor Energy’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts anticipate that Suncor Energy will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.395 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.00%. Suncor Energy’s dividend payout ratio (DPR) is currently 36.08%.

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently made changes to their positions in SU. Trust Co. of Toledo NA OH lifted its position in shares of Suncor Energy by 9.2% in the third quarter. Trust Co. of Toledo NA OH now owns 20,096 shares of the oil and gas producer’s stock worth $742,000 after purchasing an additional 1,690 shares in the last quarter. Mattson Financial Services LLC bought a new position in shares of Suncor Energy in the 2nd quarter valued at about $82,000. Sanctuary Advisors LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth about $2,448,000. Cetera Investment Advisers raised its holdings in shares of Suncor Energy by 8.2% in the 2nd quarter. Cetera Investment Advisers now owns 92,292 shares of the oil and gas producer’s stock valued at $3,516,000 after purchasing an additional 7,015 shares during the period. Finally, Chase Investment Counsel Corp lifted its stake in Suncor Energy by 7.2% in the 2nd quarter. Chase Investment Counsel Corp now owns 12,666 shares of the oil and gas producer’s stock valued at $482,000 after purchasing an additional 852 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

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.