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

Suncor Energy Inc. (NYSE:SUGet Free Report) (TSE:SU) was the target of some unusual options trading activity on Wednesday. Investors acquired 28,315 put options on the stock. This is an increase of approximately 2,998% compared to the average volume of 914 put options.

Analyst Upgrades and Downgrades

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

View Our Latest Report on SU

Institutional Trading of Suncor Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its stake in shares of Suncor Energy by 59.7% during the 1st quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after acquiring an additional 6,580,260 shares in the last quarter. TD Asset Management Inc grew its holdings in Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after purchasing an additional 4,612,764 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Suncor Energy by 669.2% in the first quarter. Assenagon Asset Management S.A. now owns 4,348,589 shares of the oil and gas producer’s stock valued at $160,507,000 after buying an additional 3,783,250 shares in the last quarter. AGF Management Ltd. raised its stake in shares of Suncor Energy by 454.9% during the 4th quarter. AGF Management Ltd. now owns 3,586,421 shares of the oil and gas producer’s stock worth $114,909,000 after buying an additional 2,940,103 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Suncor Energy by 8.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock valued at $717,210,000 after buying an additional 1,725,969 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Trading Up 1.2 %

NYSE:SU opened at $37.90 on Thursday. The company has a market capitalization of $48.56 billion, a P/E ratio of 8.44, a PEG ratio of 3.60 and a beta of 1.12. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. Suncor Energy has a 12 month low of $28.65 and a 12 month high of $41.50. The firm has a fifty day simple moving average of $38.65 and a 200-day simple moving average of $36.13.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. On average, equities research analysts anticipate that Suncor Energy will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.395 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.17%. Suncor Energy’s payout ratio is currently 35.19%.

Suncor Energy Company Profile

(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.

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