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

Key Points

• Suncor Energy experienced an unusual surge in options trading, with 28,315 put options purchased, marking a dramatic increase of 2,998% over typical volumes.
• The company recently announced a quarterly dividend increase to $0.4135 per share, and its dividend yield now stands at 4.3%.
• Suncor reported earnings of $0.51 per share, slightly exceeding analysts’ expectations, despite revenues falling short of estimates.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was the target of some unusual options trading on Wednesday. Stock investors purchased 28,315 put options on the stock. Thisrepresentsanincreaseof2,998% compared to the typical volume of 914 put options.

Suncor Energy Stock Up 0.5%

Shares of NYSE SU opened at $38.5630 on Thursday. The stock has a market capitalization of $46.97 billion, a P/E ratio of 11.87, a PEG ratio of 3.30 and a beta of 0.84. The stock's fifty day moving average is $39.10 and its 200 day moving average is $37.38. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $41.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data 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. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the company posted $1.27 earnings per share. Sell-side analysts forecast that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.4135 per share. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a yield of 4.3%. The ex-dividend date is Thursday, September 4th. Suncor Energy's dividend payout ratio (DPR) is presently 51.08%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in shares of Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer's stock worth $480,760,000 after buying an additional 12,318,559 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Suncor Energy by 38.5% in the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer's stock valued at $1,264,043,000 after acquiring an additional 9,378,552 shares during the last quarter. Principal Financial Group Inc. raised its stake 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 acquiring an additional 6,311,513 shares in the last quarter. Goldman Sachs Group Inc. raised its stake 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 acquiring an additional 5,658,880 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Suncor Energy in the first quarter worth about $126,048,000. 67.37% of the stock is currently owned by institutional investors.

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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