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

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

Analysts Set New Price Targets

A number of analysts recently weighed in on SU shares. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Morgan Stanley increased their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. The Goldman Sachs Group increased their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. TD Securities increased their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average target price of $51.67.

Suncor Energy Stock Up 1.9 %

SU opened at $38.00 on Friday. Suncor Energy has a fifty-two week low of $28.26 and a fifty-two week high of $41.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The company has a market capitalization of $48.70 billion, a P/E ratio of 8.46, a P/E/G ratio of 3.58 and a beta of 1.11. The stock has a fifty day moving average of $38.77 and a 200-day moving average of $35.63.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $8.64 billion. On average, equities analysts expect that Suncor Energy will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 35.19%.

Institutional Trading of Suncor Energy

Several hedge funds and other institutional investors have recently made changes to their positions in SU. Johnson Financial Group Inc. acquired a new position in shares of Suncor Energy in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy in the fourth quarter valued at approximately $25,000. Adirondack Trust Co. lifted its stake in Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 313 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Suncor Energy by 43.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 313 shares during the period. Finally, Headinvest LLC acquired a new position in Suncor Energy in the third quarter valued at approximately $40,000. 67.37% of the stock is currently owned by institutional investors.

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.