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

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

Suncor Energy Stock Down 0.2 %

Shares of NYSE SU opened at $40.24 on Thursday. The firm has a fifty day simple moving average of $38.51 and a two-hundred day simple moving average of $37.52. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.92. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $51.12 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 2.84 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. Suncor Energy’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities analysts expect that Suncor Energy will post 3.64 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 3.93%. Suncor Energy’s dividend payout ratio is presently 35.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SU. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Raymond James raised shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Finally, Wolfe Research began coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and an average target price of $54.75.

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new position in shares of Suncor Energy during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new stake in shares of Suncor Energy in the 4th quarter worth approximately $25,000. Trust Co. of Vermont bought a new position in Suncor Energy during the 2nd quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new position in Suncor Energy during the second quarter valued at $27,000. Finally, Ridgewood Investments LLC bought a new stake in Suncor Energy in the second quarter worth $29,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.