Sunoco (NYSE:SUN) Price Target Raised to $77.00

Sunoco (NYSE:SUN) had its price target increased by equities research analysts at Wells Fargo & Company from $71.00 to $77.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 16.45% from the company’s previous close.

SUN has been the topic of several other reports. Royal Bank Of Canada raised their price objective on Sunoco from $64.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Weiss Ratings lowered Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Zacks Research raised Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Mizuho raised their price objective on Sunoco from $66.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus raised their price objective on Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Sunoco currently has an average rating of “Moderate Buy” and an average target price of $72.57.

Sunoco Stock Down 1.2%

NYSE:SUN traded down $0.79 during mid-day trading on Thursday, hitting $66.13. The company had a trading volume of 205,841 shares, compared to its average volume of 476,475. The business has a fifty day simple moving average of $65.07 and a 200-day simple moving average of $58.66. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06. Sunoco has a 1 year low of $47.98 and a 1 year high of $70.00. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 16.91 and a beta of 0.46.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.71 by $1.14. Sunoco had a return on equity of 19.29% and a net margin of 3.07%.The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $10.19 billion. During the same period last year, the company posted $1.21 earnings per share. The firm’s revenue was up 106.4% compared to the same quarter last year. Equities analysts forecast that Sunoco will post 7.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunoco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co boosted its position in Sunoco by 3.0% in the 1st quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company’s stock valued at $379,000 after buying an additional 168 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Sunoco by 2.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock valued at $509,000 after buying an additional 205 shares during the last quarter. Quadrant Private Wealth Management LLC boosted its position in Sunoco by 5.2% in the 3rd quarter. Quadrant Private Wealth Management LLC now owns 4,249 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 209 shares during the last quarter. IHT Wealth Management LLC boosted its position in Sunoco by 2.1% in the 2nd quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock valued at $552,000 after buying an additional 212 shares during the last quarter. Finally, Uhlmann Price Securities LLC boosted its position in Sunoco by 2.8% in the 3rd quarter. Uhlmann Price Securities LLC now owns 9,036 shares of the oil and gas company’s stock valued at $452,000 after buying an additional 250 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

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.