Several other research analysts have also recently weighed in on the stock. Barclays dropped their price objective on shares of Sunoco from $47.00 to $44.00 in a research report on Wednesday. Wells Fargo & Company cut shares of Sunoco from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $46.00 to $41.00 in a research report on Tuesday, May 31st. Finally, Mizuho upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and dropped their target price for the company from $46.00 to $44.00 in a research report on Friday, June 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and an average price target of $44.67.
Sunoco Trading Down 0.9 %
SUN stock traded down $0.33 during trading on Friday, hitting $38.37. The company had a trading volume of 233,965 shares, compared to its average volume of 295,968. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 3.90. The firm has a 50-day moving average price of $38.91 and a 200-day moving average price of $41.14. Sunoco has a 12 month low of $34.26 and a 12 month high of $46.95. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 6.40 and a beta of 1.51.
Sunoco (NYSE:SUN – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The oil and gas company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $0.89 by $1.43. Sunoco had a net margin of 3.00% and a return on equity of 70.31%. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter in the previous year, the company posted $1.60 EPS. Sunoco’s revenue was up 55.6% on a year-over-year basis. As a group, analysts predict that Sunoco will post 6.66 earnings per share for the current year.
Insider Activity at Sunoco
In other news, CEO Joseph Kim acquired 5,000 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of $35.49 per share, for a total transaction of $177,450.00. Following the transaction, the chief executive officer now directly owns 5,000 shares in the company, valued at $177,450. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Hedge Funds Weigh In On Sunoco
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in shares of Sunoco by 172.8% during the 4th quarter. Bank of Montreal Can now owns 316,200 shares of the oil and gas company’s stock worth $12,819,000 after buying an additional 200,300 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Sunoco by 10,831.3% during the 4th quarter. Citigroup Inc. now owns 199,497 shares of the oil and gas company’s stock worth $8,145,000 after buying an additional 197,672 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Sunoco during the 1st quarter worth about $7,314,000. Bank of America Corp DE boosted its stake in shares of Sunoco by 26.2% during the 1st quarter. Bank of America Corp DE now owns 398,221 shares of the oil and gas company’s stock worth $16,264,000 after buying an additional 82,745 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Sunoco by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,982,341 shares of the oil and gas company’s stock worth $80,959,000 after buying an additional 80,430 shares during the last quarter. 17.25% of the stock is owned by institutional investors and hedge funds.
Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.
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