Investors Buy High Volume of Put Options on Suncor Energy (NYSE:SU)

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

Suncor Energy Price Performance

NYSE SU opened at $38.44 on Friday. The company has a market cap of $47.84 billion, a PE ratio of 8.37, a P/E/G ratio of 2.89 and a beta of 1.12. Suncor Energy has a 52-week low of $31.25 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The firm’s 50 day moving average price is $37.67 and its 200-day moving average price is $38.54.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.67% and a net margin of 15.19%. Sell-side analysts forecast that Suncor Energy will post 3.7 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is 46.67%.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently bought and sold shares of SU. Eastern Bank acquired a new position in Suncor Energy during the 3rd quarter valued at approximately $25,000. HHM Wealth Advisors LLC increased its position in shares of Suncor Energy by 62.1% in 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 period. Golden State Wealth Management LLC purchased a new position in Suncor Energy in the 4th quarter worth $39,000. Stonebridge Financial Group LLC acquired a new stake in Suncor Energy during the 4th quarter worth about $45,000. Finally, Waldron Private Wealth LLC purchased a new stake in Suncor Energy during the 3rd quarter valued at about $49,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SU has been the topic of several recent analyst reports. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target 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.