SunocoCorp (NYSE:SUNC) Shares Cross Below 200 Day Moving Average – Should You Sell?

SunocoCorp LLC (NYSE:SUNC)’s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $69.59 and traded as low as $68.88. SunocoCorp shares last traded at $69.13, with a volume of 242,243 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup upped their target price on SunocoCorp from $73.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings initiated coverage on SunocoCorp in a research report on Tuesday, August 11th. They set a “hold (c)” rating for the company. Zacks Research cut SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Barclays reissued an “overweight” rating and issued a $83.00 price target on shares of SunocoCorp in a report on Thursday, October 15th. Finally, Mizuho initiated coverage on SunocoCorp in a research report on Friday, July 24th. They issued an “outperform” rating and a $83.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, SunocoCorp presently has an average rating of “Moderate Buy” and a consensus target price of $81.75.

SunocoCorp Price Performance

The company has a market capitalization of $3.56 billion and a price-to-earnings ratio of 23.92. The company’s 50 day simple moving average is $75.80 and its 200-day simple moving average is $69.59. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 1.60.

SunocoCorp (NYSE:SUNC) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 EPS for the quarter. The firm had revenue of $14.26 billion for the quarter.

SunocoCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be paid a dividend of $1.0148 per share. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from SunocoCorp’s previous quarterly dividend of $1.0023. This represents a $4.06 annualized dividend and a dividend yield of 5.9%. SunocoCorp’s payout ratio is currently 140.14%.

Institutional Trading of SunocoCorp

Several hedge funds and other institutional investors have recently bought and sold shares of SUNC. State of Wyoming acquired a new stake in shares of SunocoCorp during the third quarter worth $67,000. Miller Howard Investments Inc. NY grew its position in shares of SunocoCorp by 152.5% in the third quarter. Miller Howard Investments Inc. NY now owns 613,791 shares of the company’s stock valued at $44,893,000 after purchasing an additional 370,667 shares during the period. Nisa Investment Advisors LLC grew its position in shares of SunocoCorp by 147.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company’s stock valued at $109,000 after purchasing an additional 887 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in SunocoCorp in the third quarter valued at $948,000. Finally, Assenagon Asset Management S.A. increased its stake in SunocoCorp by 0.6% in the third quarter. Assenagon Asset Management S.A. now owns 1,063,315 shares of the company’s stock valued at $77,771,000 after purchasing an additional 6,690 shares during the last quarter.

SunocoCorp Company Profile

Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.