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

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

Analysts Set New Price Targets

A number of brokerages have commented on SU. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.40.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Suncor Energy by 0.8% during the third quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer’s stock worth $146,948,000 after purchasing an additional 29,014 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new position in Suncor Energy during the 3rd quarter worth about $206,000. Synovus Financial Corp grew its holdings in Suncor Energy by 11.7% during the 3rd quarter. Synovus Financial Corp now owns 81,371 shares of the oil and gas producer’s stock worth $3,004,000 after acquiring an additional 8,519 shares during the last quarter. Tidal Investments LLC increased its position in Suncor Energy by 59.6% in the 3rd quarter. Tidal Investments LLC now owns 21,971 shares of the oil and gas producer’s stock valued at $811,000 after acquiring an additional 8,207 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Suncor Energy in the third quarter worth about $104,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 0.0 %

Shares of NYSE:SU opened at $39.55 on Friday. The company has a market capitalization of $49.76 billion, a PE ratio of 8.62, a P/E/G ratio of 2.69 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company’s fifty day moving average is $39.07 and its 200-day moving average is $38.87. Suncor Energy has a 52 week low of $29.45 and a 52 week high of $41.94.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a yield of 4.14%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is currently 35.29%.

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.