Investors Buy Large Volume of Suncor Energy Put Options (NYSE:SU)

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was the recipient of unusually large options trading on Wednesday. Stock traders bought 28,315 put options on the stock. This is an increase of 2,998% compared to the average daily volume of 914 put options.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded down $0.08 during trading on Monday, reaching $33.13. The company's stock had a trading volume of 8,070,136 shares, compared to its average volume of 4,415,685. Suncor Energy has a fifty-two week low of $31.33 and a fifty-two week high of $41.95. 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 firm has a market cap of $40.98 billion, a PE ratio of 9.60, a P/E/G ratio of 2.94 and a beta of 0.79. The company has a 50-day moving average price of $37.83 and a two-hundred day moving average price of $38.18.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Tuesday, March 4th. Suncor Energy's payout ratio is currently 45.51%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SU. Scotiabank upgraded Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Bank of America initiated coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating for the company. Tudor Pickering upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds have recently modified their holdings of SU. Assenagon Asset Management S.A. lifted its stake in shares of 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 worth $123,774,000 after acquiring an additional 3,225,543 shares during the period. Principal Financial Group Inc. lifted its position in Suncor Energy by 39.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer's stock valued at $346,298,000 after purchasing an additional 2,767,043 shares during the period. Jupiter Asset Management Ltd. increased its position in Suncor Energy by 2,061.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer's stock worth $86,990,000 after purchasing an additional 2,325,503 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Suncor Energy by 500.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer's stock worth $87,459,000 after buying an additional 2,044,680 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Suncor Energy by 97.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer's stock valued at $133,250,000 after buying an additional 1,842,791 shares during the period. 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.