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

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

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently modified their holdings of SU. TrueMark Investments LLC acquired a new stake in Suncor Energy during the 1st quarter worth $1,064,000. Garde Capital Inc. acquired a new position in Suncor Energy in the 1st quarter valued at about $66,000. True Link Financial Advisors LLC acquired a new stake in Suncor Energy during the 1st quarter worth approximately $201,000. Blue Trust Inc. grew its position in Suncor Energy by 9.1% in the 1st quarter. Blue Trust Inc. now owns 7,099 shares of the oil and gas producer's stock valued at $275,000 after buying an additional 590 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Suncor Energy during the first quarter worth about $44,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Finally, Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.

Suncor Energy Stock Up 2.4 %

Suncor Energy stock traded up $0.84 during mid-day trading on Tuesday, hitting $35.40. The company had a trading volume of 2,956,410 shares, compared to its average volume of 4,473,184. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $41.95. The business has a fifty day moving average of $36.48 and a 200 day moving average of $37.78. The stock has a market cap of $43.79 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating analysts' consensus estimates 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, sell-side analysts expect that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy's dividend payout ratio (DPR) is 45.51%.

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.