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

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw unusually large options trading activity on Wednesday. Traders purchased 28,315 put options on the company. This is an increase of 2,998% compared to the average daily volume of 914 put options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Bank of America assumed coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating for the company. Finally, Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.67.

Suncor Energy Price Performance

Suncor Energy stock traded up $1.83 during trading on Friday, reaching $40.92. The company had a trading volume of 7,535,754 shares, compared to its average volume of 4,481,015. The firm's 50-day simple moving average is $35.50 and its 200 day simple moving average is $36.92. Suncor Energy has a 1-year low of $30.79 and a 1-year high of $41.95. The firm has a market capitalization of $50.25 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The firm had revenue of $9.10 billion for the quarter, compared to analysts' expectations of $13.39 billion. During the same quarter last year, the company earned $1.41 EPS. As a group, equities research analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This represents a $1.65 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is 47.55%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hanson & Doremus Investment Management increased its holdings in shares of Suncor Energy by 143.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after buying an additional 465 shares during the last quarter. Salem Investment Counselors Inc. raised its position in Suncor Energy by 97.6% in the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 405 shares during the period. Crowley Wealth Management Inc. purchased a new stake in Suncor Energy in the fourth quarter valued at $35,000. Lee Danner & Bass Inc. acquired a new stake in shares of Suncor Energy in the fourth quarter valued at $36,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Suncor Energy in the first quarter valued at $36,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Company Profile

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.