Barclays Lowers Sunoco (NYSE:SUN) Price Target to $60.00

Sunoco (NYSE:SUN) had its price target lowered by equities research analysts at Barclays from $61.00 to $60.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective indicates a potential upside of 6.76% from the company’s current price.

Several other research analysts have also weighed in on SUN. Stifel Nicolaus upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Friday, June 7th. JPMorgan Chase & Co. assumed coverage on shares of Sunoco in a research note on Wednesday, June 5th. They set an “overweight” rating and a $61.00 price objective on the stock. Mizuho upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $60.00 to $59.00 in a research note on Tuesday, June 4th. StockNews.com upgraded shares of Sunoco from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Citigroup upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.86.

Sunoco Stock Down 1.0 %

SUN stock traded down $0.54 during midday trading on Wednesday, hitting $56.20. The company’s stock had a trading volume of 279,533 shares, compared to its average volume of 570,315. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65 and a quick ratio of 1.07. Sunoco has a twelve month low of $43.64 and a twelve month high of $64.89. The company’s fifty day moving average price is $53.95 and its 200 day moving average price is $57.54. The stock has a market capitalization of $5.67 billion, a P/E ratio of 12.52 and a beta of 1.31.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. Sunoco had a net margin of 2.08% and a return on equity of 35.56%. The firm had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.13 billion. As a group, equities research analysts predict that Sunoco will post 6.09 EPS for the current year.

Insider Buying and Selling

In other Sunoco news, Director David K. Skidmore acquired 1,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $52.10 per share, with a total value of $78,150.00. Following the acquisition, the director now directly owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sunoco news, CEO Joseph Kim acquired 5,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $50.50 per share, with a total value of $252,500.00. Following the acquisition, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $505,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David K. Skidmore acquired 1,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $52.10 per share, with a total value of $78,150.00. Following the acquisition, the director now directly owns 14,608 shares in the company, valued at $761,076.80. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 9,500 shares of company stock valued at $479,570.

Hedge Funds Weigh In On Sunoco

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of Sunoco by 3.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company’s stock valued at $574,000 after buying an additional 283 shares in the last quarter. CoreCap Advisors LLC acquired a new position in shares of Sunoco in the 4th quarter valued at approximately $2,036,000. Focus Financial Network Inc. ADV acquired a new position in shares of Sunoco in the 4th quarter valued at approximately $905,000. Fractal Investments LLC increased its position in Sunoco by 1,110.0% during the 4th quarter. Fractal Investments LLC now owns 242,000 shares of the oil and gas company’s stock worth $14,503,000 after purchasing an additional 222,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Sunoco by 10.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,904,735 shares of the oil and gas company’s stock worth $174,081,000 after purchasing an additional 275,875 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.