Sunoco (NYSE:SUN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Sunoco (NYSE:SUN) had its target price hoisted by analysts at Wells Fargo & Company from $67.00 to $71.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 11.96% from the stock’s current price.

Several other analysts have also recently commented on the company. Zacks Research cut Sunoco from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Weiss Ratings downgraded shares of Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Raymond James Financial raised shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price objective on the stock in a research note on Monday, January 5th. Barclays set a $63.00 price objective on shares of Sunoco in a research report on Friday, February 20th. Finally, Wall Street Zen cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.83.

Sunoco Trading Up 0.9%

NYSE:SUN traded up $0.57 during trading hours on Friday, hitting $63.42. 165,675 shares of the company were exchanged, compared to its average volume of 477,940. The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 27.93 and a beta of 0.49. Sunoco has a one year low of $47.98 and a one year high of $65.24. The company has a fifty day simple moving average of $59.30 and a 200 day simple moving average of $54.68. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). Sunoco had a net margin of 2.01% and a return on equity of 10.76%. The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $9.65 billion. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 63.2% on a year-over-year basis. Sell-side analysts expect that Sunoco will post 10.65 EPS for the current fiscal year.

Institutional Trading of Sunoco

Several large investors have recently made changes to their positions in SUN. Alps Advisors Inc. increased its stake in Sunoco by 3.2% during the 4th quarter. Alps Advisors Inc. now owns 24,856,265 shares of the oil and gas company’s stock valued at $1,302,717,000 after purchasing an additional 766,781 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sunoco by 13.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,179,502 shares of the oil and gas company’s stock worth $159,007,000 after acquiring an additional 374,396 shares in the last quarter. Energy Income Partners LLC raised its holdings in shares of Sunoco by 1.7% in the 3rd quarter. Energy Income Partners LLC now owns 1,916,858 shares of the oil and gas company’s stock worth $95,862,000 after acquiring an additional 32,866 shares during the last quarter. Morgan Stanley lifted its position in Sunoco by 60.5% in the 4th quarter. Morgan Stanley now owns 1,639,420 shares of the oil and gas company’s stock valued at $85,922,000 after acquiring an additional 617,700 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Sunoco by 266.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,626,278 shares of the oil and gas company’s stock valued at $85,233,000 after purchasing an additional 1,182,662 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Company Profile

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.