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

Posted by Defense World Staff on Apr 6th, 2023

Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 28,315 put options on the company. This represents an increase of approximately 2,998% compared to the average volume of 914 put options.

Suncor Energy Stock Performance

Shares of SU opened at $32.00 on Thursday. The company’s 50 day moving average price is $32.69 and its 200 day moving average price is $32.43. Suncor Energy has a 52 week low of $26.42 and a 52 week high of $42.72. The company has a market capitalization of $42.61 billion, a PE ratio of 6.39, a PEG ratio of 0.65 and a beta of 1.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.74 and a current ratio of 1.13.

Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) last announced its quarterly earnings data on Tuesday, February 14th. The oil and gas producer reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.07. Suncor Energy had a net margin of 15.55% and a return on equity of 29.52%. The firm had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $9.65 billion. Research analysts expect that Suncor Energy will post 4.03 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, March 3rd were given a dividend of $0.391 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, March 2nd. Suncor Energy’s payout ratio is presently 30.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp lifted its stake in Suncor Energy by 42.9% in the fourth quarter. Toth Financial Advisory Corp now owns 1,000 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Suncor Energy by 20.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,877 shares of the oil and gas producer’s stock valued at $60,000 after acquiring an additional 325 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in Suncor Energy by 1.3% in the third quarter. Schechter Investment Advisors LLC now owns 24,716 shares of the oil and gas producer’s stock valued at $696,000 after acquiring an additional 327 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in Suncor Energy by 5.1% in the third quarter. Checchi Capital Advisers LLC now owns 7,106 shares of the oil and gas producer’s stock valued at $200,000 after acquiring an additional 345 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Suncor Energy by 22.6% in the third quarter. Hexagon Capital Partners LLC now owns 2,127 shares of the oil and gas producer’s stock valued at $60,000 after acquiring an additional 392 shares during the last quarter. 58.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SU. National Bank Financial increased their price target on shares of Suncor Energy from C$54.00 to C$57.00 in a research note on Wednesday, January 11th. StockNews.com started coverage on shares of Suncor Energy in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. TD Securities lifted their price objective on shares of Suncor Energy from C$52.00 to C$53.00 in a research report on Wednesday, February 15th. Scotiabank downgraded shares of Suncor Energy from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, March 21st. Finally, Wells Fargo & Company downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Suncor Energy has an average rating of “Hold” and an average target price of $53.89.

About Suncor Energy

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Suncor Energy, Inc is an integrated energy company, which engages in the development of petroleum resource basins. It operates through the following segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment operates assets in the Athabasca oil sands of northeast Alberta.

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