Sunoco (NYSE:SUN) Shares Break Above 200-Day Moving Average – Time to Sell?

Sunoco LP (NYSE:SUN) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $70.07 and traded as high as $73.74. Sunoco shares last traded at $72.9670, with a volume of 514,744 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Sunoco from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wells Fargo & Company increased their price target on Sunoco from $77.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Sunoco in a research report on Tuesday, August 18th. JPMorgan Chase & Co. upped their target price on Sunoco from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, Barclays increased their target price on Sunoco from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $79.00.

Sunoco Price Performance

The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 1.95. The stock has a market cap of $15.34 billion, a PE ratio of 16.60 and a beta of 0.43. The company’s 50 day moving average is $75.59 and its 200-day moving average is $70.14.

Sunoco (NYSE:SUN) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($1.56). Sunoco had a net margin of 2.88% and a return on equity of 18.78%. The business had revenue of $14.26 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm’s revenue was up 164.5% on a year-over-year basis. As a group, sell-side analysts predict that Sunoco LP will post 9.57 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a dividend of $1.0023 per share. The ex-dividend date was Friday, August 7th. This represents a $4.01 annualized dividend and a yield of 5.4%. This is a boost from Sunoco’s previous quarterly dividend of $0.9899. Sunoco’s dividend payout ratio (DPR) is presently 88.72%.

Institutional Trading of Sunoco

Several institutional investors have recently added to or reduced their stakes in SUN. Glen Eagle Advisors LLC grew its holdings in Sunoco by 496.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 710 shares in the last quarter. Compass Financial Management LLC bought a new position in shares of Sunoco during the second quarter valued at approximately $60,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Sunoco in the 1st quarter worth approximately $78,000. Western Wealth Management LLC acquired a new position in shares of Sunoco during the first quarter valued at $138,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Sunoco during the 2nd quarter valued at about $190,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Company Profile

Sunoco LP is a publicly traded master limited partnership that distributes and markets motor fuel in the United States. The company supplies gasoline, diesel, and other refined products to independent dealers, commercial customers, distributors, and convenience-store operators. It also supports fuel sales through the Sunoco brand, which is licensed to retail locations operated by third parties.

In addition to fuel distribution, Sunoco owns and operates a network of refined-product terminals and pipelines used to receive, store, transport, and deliver motor fuels and other petroleum products.