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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw unusually large options trading on Wednesday. Stock investors acquired 28,315 put options on the company. This is an increase of approximately 2,998% compared to the typical daily volume of 914 put options.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Performance

Shares of SU stock opened at $39.22 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $38.11 and a two-hundred day moving average of $38.53. The company has a market cap of $48.81 billion, a P/E ratio of 8.54, a PEG ratio of 3.35 and a beta of 1.12. Suncor Energy has a 52 week low of $31.25 and a 52 week high of $41.94.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were paid a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.17%. 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 dividend payout ratio (DPR) is presently 35.08%.

Institutional Trading of Suncor Energy

Several large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC lifted its holdings in Suncor Energy by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after acquiring an additional 20,081 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Suncor Energy by 1,345.8% during the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after purchasing an additional 436,016 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Suncor Energy during the 3rd quarter worth about $1,376,000. Assenagon Asset Management S.A. boosted its holdings in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after buying an additional 3,225,543 shares during the period. Finally, DRW Securities LLC purchased a new position in shares of Suncor Energy in the third quarter worth approximately $1,151,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.