Stock Traders Purchase Large Volume of Suncor Energy Put Options (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of unusually large options trading activity on Wednesday. Investors bought 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 Price Performance

NYSE:SU opened at $37.48 on Thursday. Suncor Energy has a one year low of $33.81 and a one year high of $41.95. The company has a market cap of $46.37 billion, a P/E ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11. The firm’s fifty day moving average price is $38.27 and its two-hundred day moving average price is $38.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

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

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.26%. Suncor Energy’s dividend payout ratio is currently 45.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Bank of America assumed coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently modified their holdings of SU. Covestor Ltd grew its stake in shares of Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 256 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Suncor Energy by 2.2% in the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock valued at $443,000 after acquiring an additional 265 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Suncor Energy by 0.3% in the fourth quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer’s stock valued at $3,408,000 after acquiring an additional 265 shares in the last quarter. X Square Capital LLC grew its stake in shares of Suncor Energy by 0.3% in the fourth quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer’s stock valued at $2,951,000 after acquiring an additional 267 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Suncor Energy by 27.5% in the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock valued at $50,000 after acquiring an additional 300 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.