Sunoco (SUN) to Release Quarterly Earnings on Wednesday

Sunoco (NYSE:SUN) is set to release its earnings data before the market opens on Wednesday, August 7th. Analysts expect Sunoco to post earnings of $1.82 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.13 billion. Sunoco had a net margin of 2.08% and a return on equity of 35.56%. On average, analysts expect Sunoco to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Sunoco Price Performance

SUN opened at $52.94 on Tuesday. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.07 and a current ratio of 1.65. Sunoco has a 1-year low of $43.85 and a 1-year high of $64.89. The company has a 50-day moving average of $54.86 and a 200-day moving average of $57.05. The company has a market capitalization of $5.34 billion, a P/E ratio of 11.79 and a beta of 1.31.

Sunoco Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be given a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Friday, August 9th. Sunoco’s dividend payout ratio is presently 77.95%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SUN shares. Citigroup upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, June 18th. Barclays dropped their price objective 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. Stifel Nicolaus upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Friday, June 7th. Mizuho upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $60.00 to $59.00 in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Sunoco in a research note on Wednesday, June 5th. They issued an “overweight” rating and a $61.00 target price on the stock. One equities research 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, Sunoco currently has an average rating of “Moderate Buy” and an average target price of $61.86.

Insider Activity at Sunoco

In other Sunoco news, CEO Joseph Kim purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $50.50 per share, with a total value of $252,500.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $505,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Sunoco news, EVP Brian A. Hand acquired 2,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $49.59 per share, with a total value of $99,180.00. Following the completion of the transaction, the executive vice president now directly owns 153,255 shares in the company, valued at approximately $7,599,915.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Kim purchased 5,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $50.50 per share, for a total transaction of $252,500.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $505,000. The disclosure for this purchase can be found here. Insiders bought 8,000 shares of company stock valued at $401,420 in the last ninety days.

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.