Sunoco (NYSE:SUN) Upgraded by Wall Street Zen to “Buy” Rating

Sunoco (NYSE:SUN) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other research firms have also recently commented on SUN. Weiss Ratings upgraded Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 21st. Barclays lifted their price objective on shares of Sunoco from $73.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada boosted their price objective on shares of Sunoco to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. upped their price objective on shares of Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. Finally, Citigroup raised their target price on shares of Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sunoco has a consensus rating of “Buy” and an average target price of $74.38.

Sunoco Stock Performance

SUN stock traded up $0.17 during trading on Friday, hitting $68.75. The company had a trading volume of 323,136 shares, compared to its average volume of 357,074. The firm has a market cap of $14.08 billion, a PE ratio of 17.58 and a beta of 0.42. Sunoco has a 1-year low of $47.98 and a 1-year high of $72.88. The firm has a 50-day moving average price of $67.22 and a 200-day moving average price of $63.10. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same period last year, the firm earned $1.21 EPS. The firm’s revenue for the quarter was up 106.4% on a year-over-year basis. On average, analysts expect that Sunoco will post 7.92 earnings per share for the current year.

Institutional Trading of Sunoco

A number of institutional investors have recently modified their holdings of the business. Ancora Advisors LLC purchased a new position in Sunoco in the third quarter worth $40,000. Glen Eagle Advisors LLC lifted its holdings in Sunoco by 496.5% in the fourth quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 710 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Sunoco during the 4th quarter worth $64,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Sunoco during the 1st quarter worth $78,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Sunoco by 110.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 823 shares during the period. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

About Sunoco

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.