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

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw some unusual options trading on Wednesday. Stock investors acquired 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.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SU. Assenagon Asset Management S.A. increased its holdings in Suncor Energy by 1,324.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer's stock valued at $123,774,000 after purchasing an additional 3,225,543 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Suncor Energy by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer's stock valued at $357,827,000 after buying an additional 1,829,936 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Suncor Energy by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer's stock valued at $256,429,000 after buying an additional 1,296,142 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer's stock valued at $956,850,000 after buying an additional 1,209,073 shares during the period. Finally, Merewether Investment Management LP purchased a new position in Suncor Energy during the 2nd quarter valued at about $42,268,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Trading Up 0.4 %

Suncor Energy stock traded up $0.14 during trading on Thursday, reaching $39.37. 2,818,903 shares of the company were exchanged, compared to its average volume of 4,456,684. The stock's 50 day simple moving average is $38.10 and its two-hundred day simple moving average is $38.53. The company has a market capitalization of $49.00 billion, a P/E ratio of 8.58, a PEG ratio of 3.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. Suncor Energy has a 52-week low of $31.25 and a 52-week high of $41.94.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.4089 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.15%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is currently 35.08%.

Analyst Ratings Changes

Several brokerages have weighed in on SU. Morgan Stanley downgraded Suncor Energy from an "overweight" rating to an "equal weight" rating in a report on Monday, December 16th. Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Royal Bank of Canada restated an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $58.00.

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.