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

Key Points

• On Wednesday, stock traders purchased 28,315 put options for Suncor Energy, marking a 2,998% increase from the typical volume.
• Suncor Energy has received a mix of ratings from analysts, with an average rating of "Moderate Buy" and a price target of $65.00.
• The company recently increased its quarterly dividend to $0.4135 per share, representing a 4.2% dividend yield.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was the target of some unusual options trading activity on Wednesday. Stock traders 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.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SU. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and an average price target of $65.00.

Suncor Energy Stock Performance

Shares of SU opened at $39.14 on Thursday. The company has a market capitalization of $47.32 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 3.19 and a beta of 0.78. Suncor Energy has a one year low of $30.79 and a one year high of $43.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The company's fifty day moving average price is $40.72 and its 200 day moving average price is $38.27.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter last year, the firm posted $1.27 EPS. As a group, analysts expect that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.4135 per share. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is presently 50.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SU. Acadian Asset Management LLC increased its holdings in shares of Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer's stock worth $480,760,000 after purchasing an additional 12,318,559 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Suncor Energy by 38.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer's stock worth $1,264,043,000 after purchasing an additional 9,378,552 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Suncor Energy by 65.0% during the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after purchasing an additional 6,311,513 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Suncor Energy by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock worth $481,135,000 after purchasing an additional 5,658,880 shares during the period. Finally, Nuveen LLC bought a new position in shares of Suncor Energy during the 1st quarter worth about $126,048,000. Institutional investors own 67.37% of the company's stock.

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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