Stock Traders Buy High Volume of Call Options on Suncor Energy (NYSE:SU)
Suncor Energy (NYSE:SU) experienced a significant surge in call options trading, with 34,271 call options purchased, marking a 582% increase from the usual volume. Despite this, Suncor's stock price fell by $0.84 to $43.96. The company recently reported strong quarterly earnings and increased its dividend. Analysts have mixed ratings on the stock, with a consensus target price of $65.00. Institutional investors have been adjusting their stakes in the company.
Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 34,271 call options on the company. This represents an increase of 582% compared to the typical volume of 5,023 call options.
Get Suncor Energy alerts:
Suncor Energy Price Performance
- Traders Are Piling Into Suncor Call Options—Should You?
Shares of Suncor Energy stock traded down $0.84 during midday trading on Tuesday, hitting $43.96. 11,852,347 shares of the company were exchanged, compared to its average volume of 4,495,445. The firm has a 50 day simple moving average of $41.72 and a 200-day simple moving average of $39.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The firm has a market cap of $52.83 billion, a P/E ratio of 13.53, a PEG ratio of 3.52 and a beta of 0.75. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $45.60.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.22. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the company posted $1.48 earnings per share. Research analysts forecast that Suncor Energy will post 3.42 earnings per share for the current year.
Suncor Energy Increases Dividend
- 3 Dividend Stocks Raising Payouts—and Backing It Up With Results
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.40 annualized dividend and a yield of 5.5%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is 55.74%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SU. Wells Fargo & Company initiated coverage on Suncor Energy in a research note on Friday, October 17th. They set an "equal weight" rating for the company. Zacks Research cut Suncor Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Suncor Energy in a report on Monday. Raymond James Financial upgraded shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has an average rating of "Moderate Buy" and a consensus target price of $65.00.
- Global Value: 3 Stocks Under $10 Riding a Weak Dollar
Check Out Our Latest Research Report on SU
Hedge Funds Weigh In On Suncor Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SU. Shell Asset Management Co. raised its position in shares of Suncor Energy by 65.8% during the second quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer's stock worth $3,854,000 after acquiring an additional 40,892 shares during the last quarter. Focus Partners Wealth boosted its holdings in Suncor Energy by 1.3% in the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer's stock valued at $30,859,000 after acquiring an additional 10,514 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in Suncor Energy by 15.6% in the second quarter. Ontario Teachers Pension Plan Board now owns 315,278 shares of the oil and gas producer's stock worth $11,818,000 after purchasing an additional 42,506 shares during the period. Canoe Financial LP bought a new stake in Suncor Energy during the 2nd quarter worth about $9,653,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Suncor Energy by 36.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer's stock worth $36,572,000 after purchasing an additional 251,298 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.
Suncor Energy Company Profile
(Get Free Report)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.
Further Reading
- Five stocks we like better than Suncor Energy
- Do ETFs Pay Dividends? What You Need to Know
- Dell Just Hit a Record in AI Orders—But the Real Test Starts Now
- Trading Halts Explained
- Here's Who Wins If Trump's 50-Year Mortgages Come to Market
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- NVIDIA’s $2B Power Play: Securing the Future of Chip Design
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Suncor Energy Right Now?
Before you consider Suncor Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Suncor Energy wasn't on the list.
While Suncor Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
