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

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

Institutional Investors Weigh In On Suncor Energy

Several institutional investors have recently added to or reduced their stakes in SU. Cullen Investment Group LTD. grew its stake in Suncor Energy by 0.8% during the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after purchasing an additional 262 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 328 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Suncor Energy by 5.0% during the third quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock valued at $276,000 after purchasing an additional 354 shares during the period. X Square Capital LLC boosted its holdings in Suncor Energy by 0.5% in the second quarter. X Square Capital LLC now owns 79,664 shares of the oil and gas producer’s stock valued at $3,035,000 after purchasing an additional 388 shares during the last quarter. Finally, Signaturefd LLC grew its position in Suncor Energy by 1.5% during the 2nd quarter. Signaturefd LLC now owns 26,530 shares of the oil and gas producer’s stock worth $1,011,000 after purchasing an additional 402 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research note on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Price Performance

SU opened at $35.18 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $44.26 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 2.43 and a beta of 1.11. Suncor Energy has a 12-month low of $31.03 and a 12-month high of $41.94. The business’s fifty day simple moving average is $38.51 and its 200-day simple moving average is $38.54.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.65%. Suncor Energy’s dividend payout ratio is presently 36.60%.

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.