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

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw some unusual options trading on Wednesday. Stock investors bought 28,315 put options on the stock. This is an increase of 2,998% compared to the average volume of 914 put options.

Suncor Energy Stock Performance

Shares of SU opened at $39.26 on Thursday. Suncor Energy has a 12-month low of $30.79 and a 12-month high of $41.95. The stock has a market cap of $48.00 billion, a P/E ratio of 11.31, a PEG ratio of 3.37 and a beta of 0.80. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $37.11 and a two-hundred day moving average of $37.07.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. The business had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, research analysts predict that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.4133 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.21%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is presently 47.84%.

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently made changes to their positions in SU. Hanson & Doremus Investment Management raised its position in shares of 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 purchasing an additional 465 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in 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 valued at $32,000 after acquiring an additional 405 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Suncor Energy during the 1st quarter worth $36,000. Crowley Wealth Management Inc. bought a new stake in shares of Suncor Energy in the 4th quarter worth about $35,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Suncor Energy in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SU. Wall Street Zen lowered Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.67.

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.

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