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

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

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Suncor Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock valued at $1,892,526,000 after buying an additional 323,714 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Suncor Energy by 0.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock valued at $865,885,000 after acquiring an additional 169,700 shares during the period. Massachusetts Financial Services Co. MA raised its position in Suncor Energy by 0.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock worth $831,631,000 after acquiring an additional 209,447 shares during the period. Toronto Dominion Bank lifted its holdings in Suncor Energy by 3.0% during the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock valued at $680,847,000 after purchasing an additional 552,018 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Suncor Energy by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer’s stock valued at $391,809,000 after purchasing an additional 445,613 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.2 %

Shares of NYSE:SU opened at $39.13 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy has a 12-month low of $33.81 and a 12-month high of $41.95. The business has a 50 day moving average of $38.11 and a two-hundred day moving average of $38.23. The company has a market capitalization of $48.41 billion, a PE ratio of 11.34, a PEG ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were paid a $0.399 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.08%. Suncor Energy’s dividend payout ratio is presently 45.51%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Bank of America assumed coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Scotiabank raised Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Finally, Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average target price of $59.20.

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.