Investors Buy High Volume of Suncor Energy Put Options (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw unusually large options trading activity on Wednesday. Stock traders bought 28,315 put options on the stock. This represents an increase of approximately 2,998% compared to the average daily volume of 914 put options.

Analyst Ratings Changes

Several brokerages have commented on SU. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Hedge Funds Weigh In On Suncor Energy

Institutional investors have recently made changes to their positions in the stock. Eastern Bank acquired a new position in shares of Suncor Energy in the third quarter worth $25,000. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in shares of Suncor Energy in the third quarter worth $49,000. Transamerica Financial Advisors Inc. raised its holdings in shares of Suncor Energy by 2,311.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 1,895 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new position in shares of Suncor Energy in the second quarter worth $82,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Down 0.1 %

SU opened at $38.29 on Friday. Suncor Energy has a one year low of $31.03 and a one year high of $41.94. The company has a market cap of $47.94 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.43 and a beta of 1.12. The business’s fifty day moving average is $37.98 and its two-hundred day moving average is $38.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were issued a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.27%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, December 3rd. Suncor Energy’s payout ratio is 36.60%.

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.