Investors Purchase High Volume of Put Options on Suncor Energy (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of some unusual 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 average volume of 914 put options.

Institutional Trading of Suncor Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in Suncor Energy in the 2nd quarter worth about $2,448,000. Cetera Investment Advisers raised its stake in Suncor Energy by 8.2% in the second quarter. Cetera Investment Advisers now owns 92,292 shares of the oil and gas producer’s stock worth $3,516,000 after buying an additional 7,015 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in shares of Suncor Energy by 7.2% during the 2nd quarter. Chase Investment Counsel Corp now owns 12,666 shares of the oil and gas producer’s stock valued at $482,000 after buying an additional 852 shares in the last quarter. Quarry LP boosted its stake in Suncor Energy by 73.0% during the second quarter. Quarry LP now owns 51,678 shares of the oil and gas producer’s stock worth $1,969,000 after acquiring an additional 21,806 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Suncor Energy by 52.8% in the second quarter. NewEdge Advisors LLC now owns 39,593 shares of the oil and gas producer’s stock worth $1,509,000 after buying an additional 13,674 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $37.70 on Friday. The stock has a market capitalization of $47.90 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 2.47 and a beta of 1.13. Suncor Energy has a 52 week low of $29.45 and a 52 week high of $41.94. The stock has a 50 day moving average price of $38.92 and a 200 day moving average price of $38.31. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The company had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. Analysts predict that Suncor Energy will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.19%. Suncor Energy’s dividend payout ratio is presently 36.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wolfe Research initiated coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $55.83.

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.