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

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Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) was the target of unusually large options trading on Wednesday. Stock investors purchased 28,315 put options on the stock. This is an increase of 2,998% compared to the typical daily volume of 914 put options.

Several institutional investors have recently made changes to their positions in SU. Dodge & Cox grew its stake in Suncor Energy by 1.6% in the fourth quarter. Dodge & Cox now owns 55,104,954 shares of the oil and gas producer’s stock worth $1,379,277,000 after purchasing an additional 859,600 shares in the last quarter. Vanguard Group Inc. grew its stake in Suncor Energy by 1.5% in the first quarter. Vanguard Group Inc. now owns 48,285,003 shares of the oil and gas producer’s stock worth $1,573,608,000 after purchasing an additional 702,121 shares in the last quarter. Mackenzie Financial Corp grew its stake in Suncor Energy by 6.0% in the first quarter. Mackenzie Financial Corp now owns 25,270,442 shares of the oil and gas producer’s stock worth $823,992,000 after purchasing an additional 1,439,547 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Suncor Energy by 0.9% in the first quarter. 1832 Asset Management L.P. now owns 21,306,725 shares of the oil and gas producer’s stock worth $685,090,000 after purchasing an additional 183,661 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Suncor Energy by 79.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 16,823,815 shares of the oil and gas producer’s stock worth $548,183,000 after purchasing an additional 7,438,559 shares in the last quarter. Institutional investors own 58.48% of the company’s stock.

SU has been the topic of several analyst reports. CIBC boosted their target price on Suncor Energy from C$50.00 to C$60.00 in a research report on Thursday, April 14th. Royal Bank of Canada upped their price objective on Suncor Energy from C$42.00 to C$47.00 in a research note on Wednesday, May 11th. Credit Suisse Group increased their price target on Suncor Energy from C$58.00 to C$63.00 and gave the company an “outperform” rating in a research note on Thursday, June 9th. Scotiabank increased their price target on Suncor Energy from C$46.00 to C$57.00 in a research note on Wednesday, June 8th. Finally, StockNews.com initiated coverage on Suncor Energy in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $51.14.

Shares of Suncor Energy stock traded down $1.15 during trading hours on Thursday, reaching $37.65. 318,857 shares of the company’s stock were exchanged, compared to its average volume of 8,240,375. Suncor Energy has a 52-week low of $17.10 and a 52-week high of $42.72. The firm has a market capitalization of $53.27 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34. The company has a fifty day moving average of $36.93 and a 200-day moving average of $31.34. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 0.36.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last released its quarterly earnings data on Monday, May 9th. The oil and gas producer reported $1.52 EPS for the quarter, beating the consensus estimate of $1.31 by $0.21. The company had revenue of $10.65 billion for the quarter, compared to analyst estimates of $9.18 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 14.18%. On average, equities research analysts anticipate that Suncor Energy will post 5.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be paid a dividend of $0.3623 per share. The ex-dividend date is Thursday, June 2nd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.33. This represents a $1.45 annualized dividend and a dividend yield of 3.85%. Suncor Energy’s dividend payout ratio (DPR) is currently 43.57%.

Suncor Energy Company Profile (Get Rating)

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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