Suncor Energy Sees Unusually Large Options Volume (NYSE:SU)

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

Suncor Energy Stock Down 0.4%

SU stock traded down $0.23 during trading hours on Thursday, hitting $57.11. The company’s stock had a trading volume of 2,751,345 shares, compared to its average volume of 5,432,454. The stock has a 50 day moving average price of $51.32 and a two-hundred day moving average price of $45.16. Suncor Energy has a 12 month low of $30.79 and a 12 month high of $58.47. The company has a market capitalization of $67.96 billion, a PE ratio of 16.46 and a beta of 0.43. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the prior year, the business posted $1.25 earnings per share. On average, equities research analysts expect that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.2%. Suncor Energy’s dividend payout ratio is currently 50.14%.

Institutional Investors Weigh In On Suncor Energy

Large investors have recently added to or reduced their stakes in the stock. Atlantic Edge Private Wealth Management LLC raised its holdings in Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 225 shares during the period. Richardson Financial Services Inc. boosted its stake in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 275 shares during the period. Headlands Technologies LLC bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $31,000. 1 North Wealth Services LLC acquired a new stake in shares of Suncor Energy in the fourth quarter worth $32,000. Finally, Hanson & Doremus Investment Management boosted its holdings in Suncor Energy by 143.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 465 shares during the period. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SU. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Wall Street Zen cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Finally, Royal Bank Of Canada increased their price objective on Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.