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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw unusually large options trading activity on Wednesday. Investors purchased 28,315 put options on the stock. This represents an increase of 2,998% compared to the typical volume of 914 put options.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC boosted its position in shares of Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 325 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Suncor Energy during the 4th quarter worth about $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy during the 4th quarter worth about $36,000. Golden State Wealth Management LLC bought a new position in shares of Suncor Energy during the 4th quarter worth about $39,000. Finally, Covestor Ltd boosted its position in shares of Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $34.30 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $38.28 and a two-hundred day moving average price of $38.49. Suncor Energy has a 1-year low of $33.81 and a 1-year high of $41.94. The company has a market cap of $42.59 billion, a P/E ratio of 9.94, a PEG ratio of 2.94 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, analysts anticipate that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.65%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.22%.

Analyst Upgrades and Downgrades

SU has been the subject of several research analyst reports. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

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.