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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of unusually large options trading activity on Wednesday. Stock investors bought 28,315 put options on the company. This is an increase of approximately 2,998% compared to the typical daily volume of 914 put options.

Wall Street Analyst Weigh In

SU has been the topic of a number of recent analyst reports. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Bank of America assumed coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Finally, Scotiabank upgraded Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of $64.67.

Suncor Energy Stock Up 3.2%

Shares of NYSE:SU opened at $38.82 on Thursday. The business has a 50-day moving average price of $35.20 and a 200 day moving average price of $36.92. 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 company has a market capitalization of $47.67 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 2.94 and a beta of 0.79. Suncor Energy has a 12-month low of $30.79 and a 12-month high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same period last year, the company earned $1.41 EPS. Sell-side analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a $0.4133 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a yield of 4.26%. The ex-dividend date is Wednesday, June 4th. Suncor Energy’s payout ratio is currently 47.55%.

Hedge Funds Weigh In On Suncor Energy

Institutional investors have recently bought and sold shares of the company. Covestor Ltd lifted its stake in Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 256 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Suncor Energy by 2.2% during the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock worth $443,000 after purchasing an additional 265 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Suncor Energy by 0.3% during the fourth quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer’s stock worth $3,408,000 after purchasing an additional 265 shares during the last quarter. X Square Capital LLC raised its stake in shares of Suncor Energy by 0.3% during the fourth quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer’s stock worth $2,951,000 after purchasing an additional 267 shares during the last quarter. Finally, Freedom Investment Management Inc. raised its stake in shares of Suncor Energy by 2.0% during the fourth quarter. Freedom Investment Management Inc. now owns 15,344 shares of the oil and gas producer’s stock worth $547,000 after purchasing an additional 302 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

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.