Stock Traders Purchase Large 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 investors purchased 28,315 put options on the stock. Thisrepresentsanincreaseof2,998% compared to the typical daily volume of 914 put options.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. AGF Management Ltd. raised its position in shares of Suncor Energy by 24.1% in the 2nd quarter. AGF Management Ltd. now owns 3,568,948 shares of the oil and gas producer’s stock valued at $133,657,000 after purchasing an additional 693,471 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Suncor Energy by 12.9% in the 2nd quarter. Metis Global Partners LLC now owns 90,552 shares of the oil and gas producer’s stock valued at $3,392,000 after purchasing an additional 10,341 shares in the last quarter. Harvest Portfolios Group Inc. raised its position in shares of Suncor Energy by 1.6% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 123,412 shares of the oil and gas producer’s stock valued at $4,623,000 after purchasing an additional 1,884 shares in the last quarter. Bryn Mawr Trust Advisors LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at approximately $207,000. Finally, Savant Capital LLC raised its position in shares of Suncor Energy by 47.4% in the 2nd quarter. Savant Capital LLC now owns 14,245 shares of the oil and gas producer’s stock valued at $533,000 after purchasing an additional 4,580 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Suncor Energy stock opened at $39.23 on Thursday. Suncor Energy has a one year low of $30.79 and a one year high of $41.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39. The business has a fifty day moving average of $38.70 and a two-hundred day moving average of $37.38. The company has a market cap of $47.77 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 3.45 and a beta of 0.84.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. During the same quarter in the previous year, the company posted $1.27 EPS. As a group, analysts predict that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.4135 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is presently 51.08%.

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.