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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 28,315 put options on the stock. This represents an increase of approximately 2,998% compared to the average volume of 914 put options.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC raised its holdings in Suncor Energy by 62.1% in the fourth 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 approximately $35,000. Lee Danner & Bass Inc. purchased a new stake in Suncor Energy during the fourth quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new stake in Suncor Energy in the fourth quarter valued at approximately $39,000. Finally, Covestor Ltd grew its holdings in Suncor Energy by 30.5% in the fourth 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 during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $39.13 on Thursday. Suncor Energy has a 12 month low of $33.81 and a 12 month high of $41.95. The stock’s fifty day moving average price is $38.11 and its 200-day moving average price is $38.23. The firm has a market cap of $48.41 billion, a P/E ratio of 11.34, a P/E/G ratio of 2.94 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, equities research analysts expect that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.08%. Suncor Energy’s dividend payout ratio is presently 45.51%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SU shares. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Bank of America started coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating on the stock. Finally, Scotiabank upgraded Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.20.

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.