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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of some unusual options trading on Wednesday. Stock traders acquired 28,315 put options on the company. This represents an increase of approximately 2,998% compared to the average daily volume of 914 put options.

Suncor Energy Trading Up 0.4 %

Shares of SU opened at $35.18 on Thursday. Suncor Energy has a 52-week low of $31.03 and a 52-week high of $41.94. The stock has a market cap of $44.26 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. The firm’s fifty day moving average is $38.51 and its two-hundred day moving average is $38.54. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.65%. Suncor Energy’s payout ratio is presently 36.60%.

Institutional Trading of Suncor Energy

Several large investors have recently bought and sold shares of the business. Eastern Bank acquired a new position in shares of Suncor Energy during the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its stake in Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 328 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Suncor Energy in the 2nd quarter valued at $29,000. Waldron Private Wealth LLC acquired a new stake in shares of Suncor Energy in the 3rd quarter worth $49,000. Finally, Transamerica Financial Advisors Inc. raised its holdings in shares of Suncor Energy by 2,311.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 1,895 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SU shares. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Friday, December 20th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

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.