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

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

Hedge Funds Weigh In On Suncor Energy

A number of large investors have recently added to or reduced their stakes in SU. HHM Wealth Advisors LLC boosted its holdings in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the period. Crowley Wealth Management Inc. purchased a new stake in shares of Suncor Energy during the fourth quarter valued at approximately $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy in the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC purchased a new position in shares of Suncor Energy in the fourth quarter worth $39,000. Finally, Covestor Ltd raised its holdings in Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SU. Bank of America assumed coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Scotiabank upgraded Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Trading Up 0.2 %

Shares of SU stock opened at $39.13 on Thursday. The business has a 50-day moving average price of $38.11 and a two-hundred day moving average price of $38.23. Suncor Energy has a 12-month low of $33.81 and a 12-month high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a market cap of $48.41 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities analysts anticipate that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were paid 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 (DPR) is 45.51%.

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.