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

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw some unusual options trading on Wednesday. Stock investors bought 28,315 put options on the company. This represents an increase of 2,998% compared to the typical volume of 914 put options.

Suncor Energy Stock Performance

SU opened at $37.97 on Thursday. The business's 50 day moving average is $36.52 and its 200-day moving average is $36.95. The stock has a market cap of $46.42 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 3.33 and a beta of 0.79. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Suncor Energy has a twelve month low of $30.79 and a twelve month high of $41.95.

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 for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. The company had revenue of $9.10 billion for the quarter, compared to analysts' expectations of $13.39 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. On average, analysts predict that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a dividend of $0.4133 per share. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.65 annualized dividend and a yield of 4.35%. Suncor Energy's payout ratio is presently 47.84%.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SU. Acadian Asset Management LLC raised its holdings in Suncor Energy by 12,290.9% during the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer's stock worth $480,760,000 after purchasing an additional 12,318,559 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after purchasing an additional 6,311,513 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Suncor Energy by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock worth $481,135,000 after purchasing an additional 5,658,880 shares in the last quarter. Nuveen LLC bought a new stake in Suncor Energy during the first quarter worth approximately $126,048,000. Finally, Mackenzie Financial Corp raised its holdings in Suncor Energy by 18.6% during the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock worth $595,398,000 after purchasing an additional 2,410,857 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Scotiabank upgraded Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Bank of America assumed coverage on Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Finally, Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average target price of $64.67.

About Suncor Energy

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.

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