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

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

Suncor Energy Stock Down 0.4%

SU stock opened at $36.27 on Thursday. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $35.67 and a 200-day simple moving average of $37.37. The stock has a market capitalization of $44.72 billion, a P/E ratio of 10.51, a P/E/G ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same period in the previous year, the business earned $1.41 EPS. Equities analysts forecast that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. This represents a $1.65 annualized dividend and a dividend yield of 4.56%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, June 4th. Suncor Energy's payout ratio is presently 45.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SU. HHM Wealth Advisors LLC increased its holdings in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. Hanson & Doremus Investment Management grew its holdings in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 465 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 405 shares during the period. Crowley Wealth Management Inc. purchased a new stake in shares of Suncor Energy in the fourth quarter valued at about $35,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Suncor Energy in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Tudor, Pickering, Holt & Co. raised Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They issued a "neutral" rating on the stock. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. StockNews.com cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.