Sunoco (NYSE:SUN) was upgraded by analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report released on Monday, December 18th, MarketBeat.com reports. The firm presently has a $33.00 price target on the oil and gas company’s stock. Goldman Sachs Group’s price objective would suggest a potential upside of 4.46% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Robert W. Baird reissued a “buy” rating and set a $36.00 price objective on shares of Sunoco in a research report on Friday, November 10th. Mitsubishi UFJ Financial Group reaffirmed an “underweight” rating on shares of Sunoco in a report on Thursday, November 9th. Mizuho reaffirmed a “sell” rating and issued a $29.00 target price on shares of Sunoco in a report on Friday, October 20th. Finally, Jefferies Group reissued a “hold” rating and set a $30.00 price objective on shares of Sunoco in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Sunoco has a consensus rating of “Hold” and an average price target of $31.61.
Shares of Sunoco (NYSE SUN) traded up $0.79 during midday trading on Monday, reaching $31.59. 653,906 shares of the company were exchanged, compared to its average volume of 511,172. The stock has a market cap of $3,140.00, a price-to-earnings ratio of -6.16 and a beta of 0.56. The company has a debt-to-equity ratio of 2.28, a quick ratio of 3.75 and a current ratio of 4.02. Sunoco has a 52 week low of $23.09 and a 52 week high of $32.67.
In other news, insider Arnold Dodderer sold 2,512 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $28.98, for a total transaction of $72,797.76. Following the transaction, the insider now directly owns 23,923 shares of the company’s stock, valued at $693,288.54. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in shares of Sunoco by 5.9% during the second quarter. Alliancebernstein L.P. now owns 12,679 shares of the oil and gas company’s stock valued at $388,000 after purchasing an additional 710 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Sunoco by 24.0% during the second quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock valued at $191,000 after purchasing an additional 1,213 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Sunoco by 9.0% during the second quarter. Private Advisor Group LLC now owns 19,092 shares of the oil and gas company’s stock valued at $577,000 after purchasing an additional 1,583 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Sunoco by 17.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 2,102 shares in the last quarter. Finally, Commonwealth Equity Services Inc boosted its stake in shares of Sunoco by 21.4% during the third quarter. Commonwealth Equity Services Inc now owns 15,045 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 2,648 shares in the last quarter. Hedge funds and other institutional investors own 26.32% of the company’s stock.
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Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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