Sunoco (NYSE:SUN – Get Rating) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.
A number of other analysts also recently weighed in on SUN. Wells Fargo & Company downgraded Sunoco from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $46.00 to $41.00 in a report on Tuesday, May 31st. Mizuho increased their price target on Sunoco from $44.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. Finally, Barclays decreased their price target on Sunoco from $47.00 to $44.00 in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.00.
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Sunoco Price Performance
Sunoco stock opened at $40.14 on Tuesday. Sunoco has a 12 month low of $34.26 and a 12 month high of $46.95. The stock's 50 day moving average is $39.79 and its 200-day moving average is $40.25. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 3.61. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 7.34 and a beta of 1.48.
Sunoco (NYSE:SUN – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The oil and gas company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.06. The company had revenue of $7.82 billion during the quarter, compared to analysts' expectations of $5.63 billion. Sunoco had a return on equity of 61.22% and a net
margin of 2.36%. Sunoco's revenue was up 77.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. Equities research analysts expect that Sunoco will post 6.44 EPS for the current year.
Hedge Funds Weigh In On Sunoco
Several hedge funds have recently modified their holdings of SUN. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Sunoco in the 2nd quarter valued at approximately $75,000. Belpointe Asset Management LLC purchased a new position in shares of Sunoco during the 2nd quarter valued at $102,000. Captrust Financial Advisors grew its position in shares of Sunoco by 60.3% during the 1st quarter. Captrust Financial Advisors now owns 2,549 shares of the oil and gas company's stock valued at $104,000 after purchasing an additional 959 shares in the last quarter. US Bancorp DE grew its position in shares of Sunoco by 600.0% during the 2nd quarter. US Bancorp DE now owns 3,500 shares of the oil and gas company's stock valued at $131,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Sunoco by 12.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,458 shares of the oil and gas company's stock valued at $167,000 after purchasing an additional 503 shares in the last quarter. Institutional investors own 16.82% of the company's stock.
Sunoco Company Profile
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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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