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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SU shares. Scotiabank reduced their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and seven have assigned 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 $55.83.

Suncor Energy Stock Down 0.7 %

Suncor Energy stock opened at $36.98 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. Suncor Energy has a 12-month low of $29.45 and a 12-month high of $41.94. The firm’s fifty day moving average is $38.93 and its 200 day moving average is $38.32. The company has a market capitalization of $47.39 billion, a PE ratio of 8.24, a PEG ratio of 2.44 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict that Suncor Energy will post 3.71 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.27%. Suncor Energy’s payout ratio is 35.86%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SU. International Assets Investment Management LLC acquired a new position in Suncor Energy during the fourth quarter worth $400,000. Avantax Advisory Services Inc. bought a new stake in shares of Suncor Energy in the 4th quarter worth $205,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Suncor Energy by 10.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock worth $957,000 after acquiring an additional 2,895 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Suncor Energy in the 4th quarter worth $243,000. Finally, Balentine LLC grew its stake in shares of Suncor Energy by 9.4% in the 4th quarter. Balentine LLC now owns 14,843 shares of the oil and gas producer’s stock worth $476,000 after acquiring an additional 1,281 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.