Sunoco (NYSE:SUN) PT Raised to $63.00

Sunoco (NYSE:SUN) had its price objective hoisted by JPMorgan Chase & Co. from $61.00 to $63.00 in a research report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas company’s stock.

A number of other research analysts have also weighed in on SUN. StockNews.com lowered Sunoco from a buy rating to a hold rating in a report on Thursday, August 8th. Citigroup upgraded shares of Sunoco from a neutral rating to a buy rating and set a $65.00 price target on the stock in a research report on Tuesday, June 18th. Stifel Nicolaus raised shares of Sunoco from a hold rating to a buy rating and set a $62.00 price objective for the company in a research note on Friday, June 7th. Barclays decreased their target price on shares of Sunoco from $61.00 to $60.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Finally, Mizuho upgraded Sunoco from a neutral rating to a buy rating and dropped their price target for the company from $60.00 to $59.00 in a research report on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $62.14.

Sunoco Stock Down 1.1 %

SUN stock opened at $51.87 on Wednesday. The stock has a market capitalization of $5.23 billion, a P/E ratio of 11.55 and a beta of 1.30. Sunoco has a 52 week low of $44.26 and a 52 week high of $64.89. The firm has a 50-day simple moving average of $54.55 and a 200-day simple moving average of $55.91. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $2.62. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities analysts forecast that Sunoco will post 7.01 earnings per share for the current fiscal year.

Sunoco Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.8756 per share. The ex-dividend date was Friday, August 9th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.75%. Sunoco’s dividend payout ratio is currently 77.95%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Principal Securities Inc. purchased a new stake in Sunoco in the fourth quarter valued at $27,000. ICA Group Wealth Management LLC acquired a new position in Sunoco in the fourth quarter valued at about $30,000. CNB Bank acquired a new position in Sunoco in the first quarter valued at about $30,000. Longfellow Investment Management Co. LLC purchased a new position in Sunoco during the second quarter worth about $32,000. Finally, First Horizon Advisors Inc. acquired a new stake in shares of Sunoco during the second quarter valued at about $38,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Company Profile

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.