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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of some unusual options trading on Wednesday. Investors purchased 28,315 put options on the company. This represents an increase of approximately 2,998% compared to the typical volume of 914 put options.

Suncor Energy Trading Down 0.1 %

Shares of Suncor Energy stock opened at $38.29 on Thursday. The company has a market cap of $47.94 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. Suncor Energy has a fifty-two week low of $31.03 and a fifty-two week high of $41.94. The firm has a 50-day simple moving average of $37.97 and a two-hundred day simple moving average of $38.46. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a $0.4089 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.27%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SU. Neville Rodie & Shaw Inc. acquired a new stake in shares of Suncor Energy during the 4th quarter worth approximately $223,000. CWA Asset Management Group LLC boosted its holdings in Suncor Energy by 15.8% in the fourth quarter. CWA Asset Management Group LLC now owns 20,813 shares of the oil and gas producer’s stock valued at $743,000 after purchasing an additional 2,837 shares during the period. Principal Financial Group Inc. raised its holdings in Suncor Energy by 23.0% in the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after acquiring an additional 1,296,142 shares in the last quarter. Franklin Resources Inc. raised its stake in Suncor Energy by 0.8% in the third quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer’s stock valued at $146,948,000 after buying an additional 29,014 shares in the last quarter. Finally, Peapack Gladstone Financial Corp purchased a new stake in Suncor Energy during the third quarter worth approximately $206,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, December 26th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. 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. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.00.

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.