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

Key Points

• Traders have purchased an unprecedented 28,315 put options for Suncor Energy (NYSE:SU), marking a 2,998% increase in options trading volume compared to the average.
• Suncor Energy recently announced a quarterly dividend increase to $0.4135 per share, reflecting an annual yield of 3.9%.
• Institutional investors control 67.37% of Suncor Energy's shares, with significant recent increases in holdings by firms like Vanguard and Artisan Partners.

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

Suncor Energy Stock Performance

NYSE SU traded down $0.14 during trading hours on Thursday, hitting $42.71. 4,545,521 shares of the company's stock traded hands, compared to its average volume of 4,276,227. The business's fifty day moving average price is $39.97 and its two-hundred day moving average price is $37.66. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $51.64 billion, a P/E ratio of 13.14, a P/E/G ratio of 3.69 and a beta of 0.87. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $43.48.

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 the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. Equities research analysts predict that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company 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 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 3.9%. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's payout ratio is presently 50.77%.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management lifted its holdings 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 Suncor Energy during the second quarter valued at approximately $31,000. Salem Investment Counselors Inc. lifted its holdings in Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 405 shares in the last quarter. Maseco LLP purchased a new position in Suncor Energy during the second quarter valued at approximately $32,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Suncor Energy during the first quarter valued at approximately $36,000. Hedge funds and other 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.