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

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

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Eastern Bank purchased a new stake in shares of Suncor Energy during the 3rd quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new stake in shares of Suncor Energy during the second quarter worth $26,000. Summit Securities Group LLC bought a new position in shares of Suncor Energy in the second quarter worth $27,000. Richardson Financial Services Inc. grew its position in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 328 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Suncor Energy during the 2nd quarter valued at $29,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

SU stock traded up $0.97 during midday trading on Thursday, hitting $40.57. The company's stock had a trading volume of 2,361,576 shares, compared to its average volume of 4,243,157. The stock has a market cap of $51.19 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 2.70 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average price is $38.29 and its 200 day moving average price is $38.74. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.94.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is 35.29%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SU shares. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. TD Securities upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a "market perform" rating to an "outperform" rating in a report on Wednesday, August 7th. Desjardins raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, 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 target for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.40.

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.