Suncor Energy Sees Surge in Put Option Purchases by Traders

Suncor Stock

Suncor Energy Inc. (SU:NYE) experienced an unusual surge in options trading activity on Wednesday. Investors purchased 28,315 put options on the company, representing an increase of approximately 2,998% compared to the typical daily volume of 914 put options.

 

Suncor Stock-Analyst Ratings:

Several equity research analysts have issued ratings on Suncor stock. Wells Fargo & Company downgraded the stock from “overweight” to “equal weight,” while TD Securities increased their price target from C$52.00 to C$53.00.

Scotiabank also downgraded the stock from “sector outperform” to “sector perform,” while National Bank Financial upgraded it from “sector perform” to “outperform.” Currently, five analysts have given Suncor stock a hold rating, and four have given it a buy rating. The company has an average rating of “Buy” and an average price target of $55.64, according to Stock Target Advisor.

 

Hedge Funds & Institutional Holdings:

A number of large investors have recently made changes to their holdings of Suncor Energy. Marks Group Wealth Management Inc increased its holdings by 16.0% during the first quarter, while Raymond James Trust N.A. lifted its holdings by 4.0%.

Boundary Creek Advisors LP increased its holdings by 36.8%, and Integrated Wealth Concepts LLC and Quantinno Capital Management LP both bought new stakes in the company during the same period. Hedge funds and other institutional investors currently own 58.04% of Suncor stock.

 

Suncor Stock Price Analysis:

Suncor stock opened at $28.61 on Thursday, with a market capitalization of $37.96 billion and a beta of 1.27. The company has a fifty-day moving average of $31.62 and a 200-day moving average of $32.53.

Its fifty-two-week low is $26.42, and its fifty-two-week high is $42.72. Suncor Energy has a price-to-earnings ratio of 5.71 and a price/earnings-to-growth ratio of 0.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.74, and a current ratio of 1.13.

 

Previous Quarter Earnings:

Suncor Energy reported its quarterly earnings data on February 14th, revealing that the company had a net margin of 15.55% and a return on equity of 29.52%. The company had revenue of $10.21 billion during the quarter, beating analysts’ expectations of $9.65 billion. Suncor Energy is forecasted to post 3.94 earnings per share for the current fiscal year.

 

Suncor Stock Dividend:

Suncor Energy recently announced a quarterly dividend, which was paid on March 24th to investors of record on March 3rd. The ex-dividend date was March 2nd. The company paid a dividend of $0.391 per share, representing a dividend yield of 5.47% and an annualized dividend of $1.56. The company’s dividend payout ratio is currently 30.34%.

 

Company Profile:

Suncor Energy Inc. operates as an integrated energy company in Canada and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments.

The company was formerly known as Suncor Inc. and changed its name to Suncor Energy Inc. in April 1997. Suncor Energy Inc. was founded in 1917 and is headquartered in Calgary, Canada.

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