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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of some unusual options trading on Wednesday. Traders purchased 28,315 put options on the stock. This is an increase of 2,998% compared to the typical volume of 914 put options.

Suncor Energy Stock Down 0.2%

Shares of NYSE:SU opened at $37.90 on Friday. The firm has a market capitalization of $46.34 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 3.30 and a beta of 0.79. The business has a 50 day simple moving average of $36.59 and a two-hundred day simple moving average of $36.95. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.39 and a quick ratio of 0.84.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $9.10 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. During the same quarter in the previous year, the business earned $1.41 EPS. On average, equities analysts predict that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.4133 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy’s payout ratio is currently 47.84%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SU. Hanson & Doremus Investment Management grew its stake in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 465 shares in the last quarter. Salem Investment Counselors Inc. boosted its holdings in shares of Suncor Energy by 97.6% in the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 405 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Suncor Energy in the first quarter valued at approximately $36,000. Crowley Wealth Management Inc. bought a new position in Suncor Energy in the fourth quarter worth approximately $35,000. Finally, Lee Danner & Bass Inc. purchased a new position in Suncor Energy during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SU shares. Scotiabank upgraded Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.67.

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.