Sunoco (NYSE:SUN) Given New $63.00 Price Target at Barclays

Sunoco (NYSE:SUN) had its target price boosted by investment analysts at Barclays from $60.00 to $63.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target suggests a potential upside of 16.32% from the stock’s current price.

A number of other research analysts have also issued reports on SUN. Royal Bank of Canada lifted their target price on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Sunoco Stock Performance

Shares of Sunoco stock opened at $54.16 on Tuesday. The business’s fifty day simple moving average is $53.13 and its 200-day simple moving average is $53.68. Sunoco has a 52 week low of $49.45 and a 52 week high of $64.89. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The firm has a market cap of $8.25 billion, a PE ratio of 12.45 and a beta of 1.34.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter last year, the company earned $2.95 earnings per share. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities analysts forecast that Sunoco will post 7.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC purchased a new stake in shares of Sunoco in the second quarter valued at approximately $32,000. First Horizon Advisors Inc. purchased a new stake in shares of Sunoco during the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC acquired a new position in shares of Sunoco during the 2nd quarter worth $46,000. HHM Wealth Advisors LLC purchased a new position in shares of Sunoco in the 2nd quarter valued at about $93,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Sunoco in the 3rd quarter valued at about $165,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

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.