Investors Purchase High Volume of Suncor Energy Put Options (NYSE:SU)

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

Suncor Energy Stock Up 0.1 %

Shares of NYSE SU opened at $38.09 on Thursday. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.94. The firm has a market cap of $48.81 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 2.76 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The stock’s 50-day simple moving average is $38.66 and its 200-day simple moving average is $38.74.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, equities analysts anticipate that Suncor Energy will post 3.53 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.15%. Suncor Energy’s dividend payout ratio (DPR) is 35.86%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wolfe Research assumed coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective on the stock. Scotiabank cut their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.83.

Hedge Funds Weigh In On Suncor Energy

Hedge funds have recently bought and sold shares of the company. Eastern Bank acquired a new position in Suncor Energy in the third quarter worth about $25,000. Trust Co. of Vermont acquired a new position in Suncor Energy in the second quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in Suncor Energy in the second quarter valued at approximately $27,000. Richardson Financial Services Inc. boosted its stake in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in Suncor Energy in the second quarter valued at approximately $29,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.