Wall Street Zen Downgrades Sunoco (NYSE:SUN) to Hold

Sunoco (NYSE:SUN) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other research firms also recently commented on SUN. Weiss Ratings raised shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Zacks Research lowered shares of Sunoco from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Raymond James Financial upgraded 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 $60.00 target price on shares of Sunoco and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, Wells Fargo & Company set a $65.00 price target on shares of Sunoco and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sunoco has an average rating of “Buy” and a consensus target price of $65.60.

Sunoco Price Performance

NYSE SUN opened at $59.50 on Friday. The stock has a 50-day moving average of $55.56 and a 200 day moving average of $53.36. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.50 and a current ratio of 3.11. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 20.31 and a beta of 0.51. Sunoco has a one year low of $47.98 and a one year high of $60.62.

Institutional Trading of Sunoco

Several institutional investors have recently made changes to their positions in SUN. JPMorgan Chase & Co. lifted its holdings in Sunoco by 266.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,626,278 shares of the oil and gas company’s stock worth $85,233,000 after purchasing an additional 1,182,662 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of 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 during the last quarter. Morgan Stanley grew its position in shares of Sunoco by 60.5% during the fourth quarter. Morgan Stanley now owns 1,639,420 shares of the oil and gas company’s stock valued at $85,922,000 after purchasing an additional 617,700 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 valued at $159,007,000 after buying an additional 374,396 shares during the last quarter. Finally, M&T Bank Corp increased its stake in Sunoco by 1,562.3% in the 4th quarter. M&T Bank Corp now owns 217,855 shares of the oil and gas company’s stock worth $11,418,000 after acquiring an additional 204,749 shares during the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

About Sunoco

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.