Zacks Investment Research cut shares of Sunoco LP (NYSE:SUN) from a hold rating to a strong sell rating in a research note released on Thursday.

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 recently commented on the company. Mizuho assumed coverage on Sunoco in a research report on Thursday, September 29th. They issued a neutral rating and a $31.00 price target on the stock. Citigroup Inc. began coverage on Sunoco in a research report on Friday, September 23rd. They issued a neutral rating and a $30.00 target price on the stock. Vetr upgraded Sunoco from a hold rating to a buy rating and set a $31.33 target price on the stock in a research report on Monday, September 12th. FBR & Co began coverage on Sunoco in a research report on Friday, September 9th. They issued a market perform rating and a $32.00 target price on the stock. Finally, Morgan Stanley began coverage on Sunoco in a research report on Monday, August 15th. They issued an equal weight rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Sunoco has a consensus rating of Hold and a consensus price target of $34.76.

Shares of Sunoco (NYSE:SUN) traded up 0.3936% on Thursday, reaching $28.4415. 38,740 shares of the company traded hands. Sunoco has a one year low of $22.86 and a one year high of $40.06. The company has a market capitalization of $3.18 billion, a P/E ratio of 23.8804 and a beta of 0.67. The firm’s 50 day moving average is $29.55 and its 200 day moving average is $31.25.

A number of large investors have recently made changes to their positions in the company. Creative Planning increased its stake in shares of 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 during the period. BlackRock Inc. increased its position in shares of Sunoco by 8.6% in the second quarter. BlackRock Inc. now owns 5,230 shares of the company’s stock worth $157,000 after buying an additional 412 shares during the period. Lebenthal Asset Management LLC acquired a new position in shares of Sunoco during the second quarter worth about $240,000. Invictus RG acquired a new position in shares of Sunoco during the first quarter worth about $254,000. Finally, GSA Capital Partners LLP increased its position 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. Institutional investors and hedge funds own 41.97% of the company’s stock.

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.

5 Day Chart for NYSE:SUN

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