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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) was the target of unusually large options trading activity on Wednesday. Stock investors bought 28,315 put options on the company. This represents an increase of 2,998% compared to the average daily volume of 914 put options.

Suncor Energy Stock Performance

NYSE:SU opened at $37.97 on Thursday. The company has a market cap of $46.42 billion, a P/E ratio of 10.94, a P/E/G ratio of 3.33 and a beta of 0.79. The firm’s 50 day moving average is $36.52 and its two-hundred day moving average is $36.95. Suncor Energy has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping 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 business had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same period in the prior year, the firm posted $1.41 EPS. Analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were issued a $0.4133 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.35%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 47.84%.

Wall Street Analyst Weigh In

SU has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Bank of America started coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating on the stock. Finally, Scotiabank upgraded Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.67.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Hanson & Doremus Investment Management raised 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 valued at $31,000 after buying an additional 465 shares during the period. Salem Investment Counselors Inc. increased its position in shares of 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 acquiring an additional 405 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Suncor Energy in the 4th quarter valued at $35,000. Lee Danner & Bass Inc. acquired a new position in shares of Suncor Energy during the 4th quarter valued at $36,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Suncor Energy during the 1st quarter valued at $36,000. 67.37% of the stock is owned by institutional investors and hedge funds.

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.