Investors Buy Large Volume of Put Options on Suncor Energy (NYSE:SU)

Key Points

• Suncor Energy experienced a 2,998% increase in put options trading, with 28,315 put options bought on Wednesday, indicating significant trader interest or concern.
• The company recently declared a quarterly dividend of $0.4135, a slight increase from the previous dividend, and sets the yield at 3.9%.
• Institutional investors control 67.37% of Suncor Energy’s stock, reflecting strong confidence by large financial entities in the company's future.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 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 Trading of Suncor Energy

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its holdings in shares of Suncor Energy by 155.2% during the 2nd quarter. Osaic Holdings Inc. now owns 95,051 shares of the oil and gas producer's stock worth $3,631,000 after acquiring an additional 57,810 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Suncor Energy by 452.2% during the 2nd quarter. Squarepoint Ops LLC now owns 124,216 shares of the oil and gas producer's stock worth $4,652,000 after acquiring an additional 101,721 shares during the period. FORA Capital LLC bought a new position in shares of Suncor Energy during the 2nd quarter worth about $950,000. Headlands Technologies LLC bought a new position in shares of Suncor Energy during the 2nd quarter worth about $31,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of Suncor Energy by 82.5% during the 2nd quarter. Corient Private Wealth LLC now owns 1,461,949 shares of the oil and gas producer's stock worth $54,750,000 after acquiring an additional 660,914 shares during the period. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

Suncor Energy stock traded down $1.14 during mid-day trading on Friday, reaching $41.58. The company had a trading volume of 7,717,165 shares, compared to its average volume of 4,303,017. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $43.48. The company has a 50 day moving average of $40.06 and a 200-day moving average of $37.79. The firm has a market cap of $50.27 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 3.37 and a beta of 0.87.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating 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 firm 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 EPS. On average, sell-side analysts expect that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.4135 dividend. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.0%. Suncor Energy's payout ratio is currently 50.77%.

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.