Suncor Energy (NYSE:SU) Sees Strong Trading Volume - What's Next?

Key Points

• Suncor Energy experienced an unusual spike in trading volume, with approximately 8.99 million shares traded, indicating a 92% increase from the previous session.
• Despite a recent earnings report showing an EPS of $0.51, Suncor's revenue fell short of estimates at $8.81 billion compared to an expected $11.56 billion.
• The company announced an increase in its quarterly dividend to $0.4135 per share, reflecting a yield of 4.1%, set to be paid on September 25th.

Shares of Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw unusually-strong trading volume on Wednesday . Approximately 8,996,312 shares traded hands during mid-day trading, an increase of 92% from the previous session's volume of 4,679,610 shares.The stock last traded at $40.61 and had previously closed at $41.31.

Suncor Energy Price Performance

The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The firm has a market cap of $48.51 billion, a P/E ratio of 12.30, a PEG ratio of 3.46 and a beta of 0.87. The business has a fifty day moving average of $39.39 and a 200 day moving average of $37.50.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. During the same quarter last year, the company posted $1.27 earnings per share. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a dividend of $0.4135 per share. The ex-dividend date is Thursday, September 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a yield of 4.1%. Suncor Energy's dividend payout ratio is 50.77%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors have recently made changes to their positions in the company. Hanson & Doremus Investment Management raised its position in Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Suncor Energy during the 2nd quarter valued at $31,000. Salem Investment Counselors Inc. grew 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 worth $32,000 after acquiring an additional 405 shares in the last quarter. Maseco LLP purchased a new position in Suncor Energy during the 2nd quarter valued at about $32,000. Finally, N.E.W. Advisory Services LLC bought a new position in Suncor Energy in the first quarter worth about $36,000. Institutional investors 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.