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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw some unusual options trading activity on Wednesday. Investors purchased 28,315 put options on the stock. This is an increase of 2,998% compared to the typical daily volume of 914 put options.

Suncor Energy Trading Up 2.2 %

NYSE SU opened at $39.51 on Friday. The firm has a market capitalization of $50.20 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 2.48 and a beta of 1.13. The business’s 50-day moving average price is $38.77 and its two-hundred day moving average price is $38.50. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, analysts expect that Suncor Energy will post 3.71 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 36.08%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new position in Suncor Energy in the fourth quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new stake in Suncor Energy in the second quarter worth $26,000. Summit Securities Group LLC bought a new stake in Suncor Energy in the second quarter valued at $27,000. Ridgewood Investments LLC acquired a new position in shares of Suncor Energy during the second quarter valued at about $29,000. Finally, Adirondack Trust Co. boosted its position in shares of Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 313 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank reduced their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Wolfe Research began coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

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.