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

Suncor Energy logo with Energy background

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.

Check Out Our Latest Research Report on Suncor Energy

About Suncor Energy

(Get Free Report)

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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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.

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