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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw some unusual 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 daily volume of 914 put options.

Institutional Trading of Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new position in Suncor Energy during the fourth quarter valued at $25,000. Richardson Financial Services Inc. purchased a new position in Suncor Energy during the fourth quarter valued at $25,000. Arlington Trust Co LLC purchased a new position in Suncor Energy during the third quarter valued at $29,000. Optiver Holding B.V. purchased a new position in Suncor Energy during the third quarter valued at $29,000. Finally, Adirondack Trust Co. grew its stake in Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 313 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SU shares. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Morgan Stanley increased their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Suncor Energy Stock Down 1.4 %

Shares of SU stock opened at $37.65 on Thursday. Suncor Energy has a 12 month low of $27.59 and a 12 month high of $39.73. The stock has a market cap of $48.46 billion, a P/E ratio of 8.01, a P/E/G ratio of 3.50 and a beta of 1.13. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $36.77 and a two-hundred day simple moving average of $34.00.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. The firm had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same period in the prior year, the company posted $1.33 earnings per share. On average, research analysts expect that Suncor Energy will post 3.78 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were paid a $0.406 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.31%. Suncor Energy’s dividend payout ratio is 34.26%.

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.