Sunoco (NYSE:SUN) Stock Rating Upgraded by Zacks Research

Sunoco (NYSE:SUN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. Wall Street Zen lowered shares of Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Wells Fargo & Company raised their price objective on Sunoco from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Weiss Ratings cut Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Raymond James Financial raised Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a report on Monday, January 5th. Finally, Barclays set a $63.00 target price on Sunoco in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.83.

Sunoco Stock Up 1.2%

Shares of Sunoco stock opened at $64.82 on Wednesday. Sunoco has a 1 year low of $47.98 and a 1 year high of $67.82. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 28.56 and a beta of 0.48. The company has a 50-day moving average of $62.12 and a 200 day moving average of $56.15. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.38 and a quick ratio of 0.78.

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

Hedge Funds Weigh In On Sunoco

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC boosted its holdings in shares of Sunoco by 2.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock valued at $509,000 after acquiring an additional 205 shares during the last quarter. Quadrant Private Wealth Management LLC raised its holdings in shares of Sunoco by 5.2% during the third quarter. Quadrant Private Wealth Management LLC now owns 4,249 shares of the oil and gas company’s stock valued at $212,000 after purchasing an additional 209 shares during the last quarter. IHT Wealth Management LLC lifted its position in Sunoco by 2.1% during the second quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock valued at $552,000 after purchasing an additional 212 shares during the period. Uhlmann Price Securities LLC lifted its position in Sunoco by 2.8% during the third quarter. Uhlmann Price Securities LLC now owns 9,036 shares of the oil and gas company’s stock valued at $452,000 after purchasing an additional 250 shares during the period. Finally, Glenmede Investment Management LP boosted its holdings in Sunoco by 0.7% in the third quarter. Glenmede Investment Management LP now owns 39,088 shares of the oil and gas company’s stock worth $1,955,000 after purchasing an additional 288 shares during the last quarter. Institutional investors own 24.29% of the company’s stock.

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.