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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 28,315 put options on the company. This represents an increase of 2,998% compared to the average volume of 914 put options.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $35.69 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a market cap of $44.01 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. The stock’s fifty day simple moving average is $35.90 and its two-hundred day simple moving average is $37.58. Suncor Energy has a 1-year low of $30.79 and a 1-year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping 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 fiscal 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 given a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Tuesday, March 4th. Suncor Energy’s payout ratio is 45.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. MQS Management LLC bought a new stake in shares of Suncor Energy during the 1st quarter worth $701,000. Oxbow Advisors LLC raised its position in Suncor Energy by 3.1% in the first quarter. Oxbow Advisors LLC now owns 101,672 shares of the oil and gas producer’s stock worth $3,937,000 after acquiring an additional 3,020 shares during the period. Genus Capital Management Inc. boosted its stake in Suncor Energy by 209.8% in the first quarter. Genus Capital Management Inc. now owns 206,871 shares of the oil and gas producer’s stock valued at $8,009,000 after acquiring an additional 395,292 shares during the last quarter. Cerity Partners LLC grew its position in shares of Suncor Energy by 75.7% during the 1st quarter. Cerity Partners LLC now owns 72,121 shares of the oil and gas producer’s stock valued at $2,793,000 after acquiring an additional 31,077 shares during the period. Finally, Trek Financial LLC increased its stake in shares of Suncor Energy by 3.5% during the 1st quarter. Trek Financial LLC now owns 186,611 shares of the oil and gas producer’s stock worth $7,226,000 after purchasing an additional 6,368 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SU shares. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Finally, Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.20.

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.