Suncor Energy Target of Unusually High Options Trading (NYSE:SU)

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

Wall Street Analyst Weigh In

SU has been the topic of several analyst reports. Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Weiss Ratings upgraded shares of Suncor Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company assumed coverage on shares of Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SU. Vanguard Group Inc. increased its stake in Suncor Energy by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock valued at $2,046,442,000 after purchasing an additional 1,632,247 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Suncor Energy by 0.4% in the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock worth $1,417,029,000 after buying an additional 145,800 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Suncor Energy by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 20,911,602 shares of the oil and gas producer’s stock valued at $779,788,000 after buying an additional 641,354 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Suncor Energy by 0.6% during the third quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock valued at $789,213,000 after acquiring an additional 106,765 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after acquiring an additional 7,158,953 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU stock opened at $43.60 on Friday. The stock has a fifty day moving average of $41.05 and a 200 day moving average of $39.15. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $44.70. The firm has a market capitalization of $52.60 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 3.52 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the firm earned $1.48 EPS. As a group, research analysts expect that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.40 annualized dividend and a dividend yield of 5.5%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is currently 55.74%.

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.