Suncor Energy Target of Unusually Large Options Trading (NYSE:SU)

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Institutional Trading of Suncor Energy

Several large investors have recently modified their holdings of the business. Ascent Group LLC lifted its stake in Suncor Energy by 4.7% in the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock valued at $216,000 after buying an additional 260 shares in the last quarter. Archford Capital Strategies LLC lifted its position in shares of Suncor Energy by 1.2% in the third quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer’s stock valued at $987,000 after acquiring an additional 272 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 275 shares in the last quarter. D Orazio & Associates Inc. boosted its stake in shares of Suncor Energy by 3.9% during the third quarter. D Orazio & Associates Inc. now owns 7,299 shares of the oil and gas producer’s stock valued at $305,000 after acquiring an additional 275 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Suncor Energy by 10.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,947 shares of the oil and gas producer’s stock worth $123,000 after purchasing an additional 280 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of SU stock opened at $44.47 on Thursday. The stock has a fifty day moving average price of $41.56 and a 200 day moving average price of $39.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a market cap of $53.65 billion, a PE ratio of 13.68, a P/E/G ratio of 3.52 and a beta of 0.75. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $45.60.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. The business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same quarter last year, the business posted $1.48 earnings per share. Sell-side analysts forecast that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.4%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, December 3rd. Suncor Energy’s payout ratio is currently 55.74%.

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.