Investors Purchase Large Volume of Put Options on Suncor Energy (NYSE:SU)

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

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently modified their holdings of the business. First Horizon Advisors Inc. increased its holdings in Suncor Energy by 6.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock worth $186,000 after purchasing an additional 281 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 313 shares during the period. Adirondack Trust Co. grew its holdings in shares of 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 worth $34,000 after buying an additional 313 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Suncor Energy by 6.7% during the first quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock worth $186,000 after buying an additional 315 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Suncor Energy by 11.0% in the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock valued at $121,000 after buying an additional 325 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Up 1.2 %

Shares of NYSE:SU opened at $38.48 on Friday. The company has a 50 day moving average of $38.49 and a 200-day moving average of $36.55. The stock has a market cap of $49.31 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 3.61 and a beta of 1.12. Suncor Energy has a one year low of $29.45 and a one year high of $41.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. On average, sell-side analysts forecast that Suncor Energy will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were given a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio is currently 35.63%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wolfe Research started coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target on the stock. Raymond James raised Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group upped their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, TD Securities increased their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.75.

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.