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

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

Suncor Energy Stock Down 2.3 %

NYSE:SU opened at $39.71 on Thursday. The firm has a market capitalization of $51.05 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 3.71 and a beta of 1.11. Suncor Energy has a 52 week low of $27.78 and a 52 week high of $41.50. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average of $38.70 and a 200-day moving average of $34.90.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $8.64 billion. Analysts predict that Suncor Energy will post 3.62 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 3.98%. The ex-dividend date is Tuesday, June 4th. Suncor Energy’s payout ratio is currently 35.86%.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday. TD Securities lifted their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Morgan Stanley upped their target price on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. The Goldman Sachs Group upped their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of $51.67.

Check Out Our Latest Stock Report on SU

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Johnson Financial Group Inc. acquired a new stake in shares of Suncor Energy in the fourth quarter valued at $25,000. Richardson Financial Services Inc. purchased a new stake in shares of Suncor Energy in the 4th quarter valued at approximately $25,000. Optiver Holding B.V. purchased a new position in Suncor Energy during the 3rd quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Suncor Energy by 43.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 313 shares during the period. Finally, Adirondack Trust Co. raised its position in Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 313 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

About Suncor Energy

(Get Free Report)

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.

Further Reading

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