Suncor Energy Sees Unusually Large Options Volume (NYSE:SU)

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

Suncor Energy Price Performance

Shares of SU stock opened at $44.20 on Thursday. Suncor Energy has a one year low of $30.79 and a one year high of $44.51. The company has a market capitalization of $53.32 billion, a P/E ratio of 13.60, a P/E/G ratio of 3.52 and a beta of 0.75. The company’s 50-day simple moving average is $40.98 and its two-hundred day simple moving average is $39.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The company had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. As a group, equities analysts anticipate 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 will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be paid a $0.60 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 5.4%. Suncor Energy’s dividend payout ratio (DPR) is 55.74%.

Analyst Ratings Changes

SU has been the topic of several research reports. Zacks Research cut Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Weiss Ratings upgraded shares of Suncor Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, November 7th. Wells Fargo & Company started coverage on shares of Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating for the company. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Institutional Trading of Suncor Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its stake in Suncor Energy by 65.8% during the 2nd quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock worth $3,854,000 after purchasing an additional 40,892 shares during the last quarter. Focus Partners Wealth boosted its position in Suncor Energy by 1.3% during the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock worth $30,859,000 after acquiring an additional 10,514 shares during the last quarter. Canoe Financial LP purchased a new stake in Suncor Energy during the 2nd quarter valued at about $9,653,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Suncor Energy by 36.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer’s stock valued at $36,572,000 after acquiring an additional 251,298 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Suncor Energy by 18.6% in the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock valued at $595,398,000 after acquiring an additional 2,410,857 shares during the last quarter. Institutional investors and hedge funds 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.