Sunoco LP (SUN) Lowered to “Strong Sell” at Zacks Investment Research
According to Zacks, “Sunoco LP operates as a wholesale fuel distributor. It engages in distributing motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Company also operates convenience stores and retail fuel sites. Sunoco LP, formerly known as Susser Petroleum Partners LP, is based in Houston, Texas. “
A number of other research analysts have also weighed in on SUN. Credit Suisse Group AG set a $33.00 target price on Sunoco and gave the stock a hold rating in a report on Saturday, August 6th. Morgan Stanley assumed coverage on Sunoco in a report on Monday, August 15th. They set an equal weight rating and a $32.00 target price on the stock. Vetr reissued a strong-buy rating on shares of Sunoco in a report on Thursday, August 11th. Barclays PLC reissued an equal weight rating and set a $32.00 target price on shares of Sunoco in a report on Thursday, July 7th. Finally, Robert W. Baird reissued an outperform rating and set a $43.00 target price on shares of Sunoco in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $34.76.
Sunoco (NYSE:SUN) traded up 0.32% on Wednesday, hitting $28.50. The company had a trading volume of 166,902 shares. The firm has a market capitalization of $3.18 billion, a PE ratio of 23.93 and a beta of 0.67. The firm has a 50-day moving average price of $29.92 and a 200-day moving average price of $31.42. Sunoco has a 12-month low of $22.86 and a 12-month high of $40.06.
A number of large investors have recently added to or reduced their stakes in SUN. Creative Planning boosted its stake in Sunoco by 147.1% in the second quarter. Creative Planning now owns 4,300 shares of the company’s stock valued at $129,000 after buying an additional 2,560 shares in the last quarter. BlackRock Inc. boosted its stake in Sunoco by 8.6% in the second quarter. BlackRock Inc. now owns 5,230 shares of the company’s stock valued at $157,000 after buying an additional 412 shares in the last quarter. Lebenthal Asset Management LLC acquired a new stake in Sunoco during the second quarter valued at approximately $240,000. Invictus RG purchased a new stake in shares of Sunoco during the first quarter worth approximately $254,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Sunoco by 9.7% in the second quarter. GSA Capital Partners LLP now owns 10,190 shares of the company’s stock worth $305,000 after buying an additional 900 shares during the period. 41.97% of the stock is owned by institutional investors and hedge funds.
Sunoco Company Profile
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors.
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