Traders Purchase Large Volume of Put Options on Suncor Energy (NYSE:SU)

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

Hedge Funds Weigh In On Suncor Energy

A number of large investors have recently modified their holdings of the business. Eastern Bank bought a new stake in Suncor Energy during the third quarter worth $25,000. Richardson Financial Services Inc. increased its stake in shares of Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 328 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in shares of Suncor Energy in the 3rd quarter valued at about $49,000. Transamerica Financial Advisors Inc. lifted its stake in Suncor Energy by 2,311.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer's stock valued at $73,000 after purchasing an additional 1,895 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new position in Suncor Energy during the second quarter worth about $82,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Down 0.1 %

Shares of NYSE SU traded down $0.04 during midday trading on Thursday, reaching $38.29. The company's stock had a trading volume of 4,508,443 shares, compared to its average volume of 3,672,709. Suncor Energy has a fifty-two week low of $31.03 and a fifty-two week high of $41.94. The stock has a 50 day simple moving average of $37.98 and a 200-day simple moving average of $38.45. The stock has a market capitalization of $47.94 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.43 and a beta of 1.12. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. The ex-dividend date was Tuesday, December 3rd. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.27%. Suncor Energy's payout ratio is 36.60%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SU shares. Morgan Stanley cut Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 16th. StockNews.com lowered Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, December 26th. Royal Bank of Canada restated an "outperform" rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday. Finally, Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently 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.