Traders Buy Large Volume of Put Options on Suncor Energy (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the recipient of some unusual options trading on Wednesday. Stock 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.

Institutional Trading of Suncor Energy

Large investors have recently modified their holdings of the company. Aviance Capital Partners LLC acquired a new position in shares of Suncor Energy during the first quarter worth $408,000. First Bank & Trust grew its holdings in shares of Suncor Energy by 8.7% during the first quarter. First Bank & Trust now owns 8,267 shares of the oil and gas producer’s stock valued at $305,000 after buying an additional 662 shares during the last quarter. Independence Bank of Kentucky grew its holdings in shares of Suncor Energy by 6.7% during the first quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after buying an additional 315 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Suncor Energy during the first quarter valued at $230,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Suncor Energy by 6.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 83,731 shares of the oil and gas producer’s stock valued at $3,091,000 after buying an additional 5,082 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 0.4 %

Shares of NYSE:SU opened at $38.05 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market cap of $48.98 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 3.31 and a beta of 1.13. Suncor Energy has a 12 month low of $27.59 and a 12 month high of $39.32. The company has a 50-day moving average price of $35.62 and a 200 day moving average price of $33.64.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The business had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.46 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. As a group, equities research analysts predict that Suncor Energy will post 3.78 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a $0.406 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.27%. Suncor Energy’s payout ratio is presently 34.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SU. Morgan Stanley increased their price target on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.00.

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.