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

Key Points

• Suncor Energy experienced a dramatic increase in options trading, with 28,315 put options purchased on Wednesday, marking a 2,998% rise from the average daily volume of 914 put options.
• Institutional investors own 67.37% of Suncor Energy's stock, with notable increases in holdings from firms such as Hanson & Doremus Investment Management and Salem Investment Counselors Inc.
• The company recently raised its quarterly dividend to $0.4135 per share, reflecting an annualized yield of 4.0% and raising its dividend payout ratio to 51.08%.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU saw unusually large options trading activity on Wednesday. Stock 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.

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hanson & Doremus Investment Management grew its holdings in Suncor Energy by 143.5% in the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 465 shares during the period. Headlands Technologies LLC purchased a new stake in Suncor Energy in the second quarter worth about $31,000. Salem Investment Counselors Inc. grew its holdings 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 purchasing an additional 405 shares during the period. Maseco LLP purchased a new stake in Suncor Energy in the second quarter worth about $32,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Suncor Energy in the first quarter worth about $36,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

SU stock opened at $41.32 on Thursday. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $43.48. The company has a market cap of $49.95 billion, a P/E ratio of 12.71, a PEG ratio of 3.39 and a beta of 0.78. The firm has a 50-day moving average of $40.52 and a 200 day moving average of $38.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

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

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were issued a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.0%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. Suncor Energy's dividend payout ratio is currently 51.08%.

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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