Sunoco LP (NYSE:SUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $34.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.59% from the company’s previous close.

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. “

SUN has been the subject of several other research reports. BidaskClub downgraded Sunoco from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Mizuho reiterated a “sell” rating and set a $29.00 price target on shares of Sunoco in a research note on Friday, October 20th. Mitsubishi UFJ Financial Group reiterated an “underweight” rating on shares of Sunoco in a research note on Thursday, November 9th. Royal Bank Of Canada reiterated a “buy” rating and set a $35.00 price target on shares of Sunoco in a research note on Tuesday, October 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $30.00 price target (up previously from $29.00) on shares of Sunoco in a research note on Monday, September 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $31.50.

Sunoco (NYSE:SUN) opened at $30.47 on Thursday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 3.75 and a current ratio of 4.02. The firm has a market capitalization of $3,020.00, a price-to-earnings ratio of 17.94 and a beta of 0.58. Sunoco has a 12 month low of $21.01 and a 12 month high of $32.67.

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In other Sunoco news, Director Stephen Pearce sold 70,000 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $0.43, for a total value of $30,100.00.

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Sunoco by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,450,389 shares of the oil and gas company’s stock valued at $44,440,000 after acquiring an additional 173,588 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Sunoco by 1.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,340,350 shares of the oil and gas company’s stock valued at $41,028,000 after acquiring an additional 17,894 shares in the last quarter. Harvest Fund Advisors LLC raised its holdings in shares of Sunoco by 26.6% in the 3rd quarter. Harvest Fund Advisors LLC now owns 1,339,519 shares of the oil and gas company’s stock valued at $41,659,000 after acquiring an additional 281,414 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Sunoco in the 2nd quarter valued at about $10,986,000. Finally, Northwestern Mutual Investment Management Company LLC purchased a new stake in shares of Sunoco in the 2nd quarter valued at about $5,843,000. 26.50% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Company Profile

Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its 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. The Company operates through two segments: wholesale and retail.

Analyst Recommendations for Sunoco (NYSE:SUN)

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