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

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SU. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Bank of America started coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating for the company. Finally, Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Five equities research 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. According to MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its stake in Suncor Energy by 121.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 249,870 shares of the oil and gas producer’s stock valued at $8,915,000 after buying an additional 137,266 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new position in Suncor Energy during the 4th quarter worth about $1,500,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of Suncor Energy in the 4th quarter valued at about $316,000. Polar Asset Management Partners Inc. acquired a new position in shares of Suncor Energy during the fourth quarter worth about $1,962,000. Finally, Forum Financial Management LP grew its holdings in shares of Suncor Energy by 72.0% during the fourth quarter. Forum Financial Management LP now owns 9,618 shares of the oil and gas producer’s stock worth $343,000 after buying an additional 4,026 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Down 0.3 %

Shares of NYSE SU opened at $37.48 on Thursday. 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 firm has a market capitalization of $46.37 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The firm’s 50-day moving average is $38.27 and its 200-day moving average is $38.17. Suncor Energy has a 1 year low of $33.81 and a 1 year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating 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%. Equities analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.26%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is 45.51%.

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.