Sunoco LP (NYSE:SUN) Short Interest Update
Sunoco LP (NYSE:SUN) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,389,800 shares, a decline of 17.7% from the July 31st total of 1,688,900 shares. Based on an average daily volume of 272,900 shares, the short-interest ratio is presently 5.1 days. Currently, 2.6% of the shares of the company are sold short.
NYSE:SUN traded up $0.07 during trading hours on Friday, reaching $31.42. 145,733 shares of the company were exchanged, compared to its average volume of 293,895. The company has a current ratio of 1.24, a quick ratio of 0.78 and a debt-to-equity ratio of 4.51. The stock’s 50-day moving average is $31.56 and its 200-day moving average is $31.09. The firm has a market cap of $3.12 billion, a PE ratio of 12.18 and a beta of 0.77. Sunoco has a twelve month low of $23.80 and a twelve month high of $34.09.
Sunoco (NYSE:SUN) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.31). The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.17 billion. Sunoco had a return on equity of 35.57% and a net margin of 1.21%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, research analysts anticipate that Sunoco will post 2.4 EPS for the current year.
A number of large investors have recently bought and sold shares of the business. Griffin Asset Management Inc. acquired a new position in Sunoco during the second quarter worth $33,000. Royal Bank of Canada raised its position in Sunoco by 2.5% during the second quarter. Royal Bank of Canada now owns 33,232 shares of the oil and gas company’s stock worth $1,039,000 after acquiring an additional 822 shares during the period. Susquehanna Fundamental Investments LLC raised its position in Sunoco by 44.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 15,340 shares of the oil and gas company’s stock worth $480,000 after acquiring an additional 4,700 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Sunoco during the second quarter worth $287,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in Sunoco during the second quarter worth $59,000. Institutional investors own 44.43% of the company’s stock.
Several research firms recently issued reports on SUN. Stifel Nicolaus set a $34.00 target price on shares of Sunoco and gave the company a “hold” rating in a research note on Monday, August 12th. ValuEngine cut shares of Sunoco from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Raymond James decreased their target price on shares of Sunoco from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $30.80.
Sunoco Company Profile
Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major 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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