Suncor Energy Sees Unusually Large Options Volume (NYSE:SU)

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Saturday. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Tudor Pickering raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday. Finally, Morgan Stanley cut shares of Suncor Energy from an "overweight" rating to an "equal weight" rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

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Suncor Energy Price Performance

Shares of SU traded down $0.26 during mid-day trading on Friday, reaching $37.46. 3,669,706 shares of the stock traded hands, compared to its average volume of 4,215,746. The firm has a fifty day moving average price of $38.22 and a 200 day moving average price of $38.14. The company has a market cap of $46.34 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy has a 1 year low of $33.81 and a 1 year high of $41.95.

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 (EPS) 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%. As a group, equities research analysts predict that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.26%. Suncor Energy's dividend payout ratio (DPR) is presently 45.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in Suncor Energy by 1,324.8% in the fourth 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 purchasing an additional 3,225,543 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Suncor Energy by 39.9% during 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 buying an additional 2,767,043 shares during the period. Jupiter Asset Management Ltd. increased its position in shares of Suncor Energy by 2,061.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer's stock valued at $86,990,000 after buying an additional 2,325,503 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Suncor Energy by 500.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer's stock valued at $87,459,000 after buying an additional 2,044,680 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Suncor Energy by 97.4% during the fourth 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 currently owned by hedge funds and other 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.