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

Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) saw some unusual options trading activity on Wednesday. Investors bought 31,252 call options on the stock. This represents an increase of 231% compared to the typical daily volume of 9,445 call options.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SU. National Bank Financial raised Suncor Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, April 28th. StockNews.com began coverage on Suncor Energy in a report on Thursday, May 18th. They issued a “hold” rating for the company. TD Securities increased their price objective on Suncor Energy from C$52.00 to C$53.00 in a report on Wednesday, February 15th. Finally, Scotiabank downgraded Suncor Energy from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, March 21st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.57.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds have recently modified their holdings of SU. Hanson & Doremus Investment Management raised its position in Suncor Energy by 143.5% in the fourth quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 465 shares in the last quarter. Arlington Partners LLC purchased a new position in Suncor Energy in the first quarter worth $26,000. Delta Asset Management LLC TN purchased a new position in shares of Suncor Energy in the fourth quarter valued at $31,000. Sunbelt Securities Inc. purchased a new position in shares of Suncor Energy in the first quarter valued at $31,000. Finally, Toth Financial Advisory Corp increased its position in shares of Suncor Energy by 42.9% in the fourth quarter. Toth Financial Advisory Corp now owns 1,000 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 300 shares in the last quarter. 58.04% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of NYSE SU opened at $28.91 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.11 and a quick ratio of 0.69. The stock has a fifty day moving average price of $30.25 and a 200 day moving average price of $32.06. Suncor Energy has a 1-year low of $26.42 and a 1-year high of $42.72. The company has a market cap of $37.93 billion, a PE ratio of 6.40, a P/E/G ratio of 0.63 and a beta of 1.28.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Monday, June 5th will be issued a dividend of $0.384 per share. This represents a $1.54 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Friday, June 2nd. Suncor Energy’s dividend payout ratio is presently 33.85%.

Suncor Energy Company Profile

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Suncor Energy, Inc is an integrated energy company, which engages in the development of petroleum resource basins. It operates through the following segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment operates assets in the Athabasca oil sands of northeast Alberta.