Sunoco (NYSE:SUN) Rating Increased to Buy at StockNews.com

Sunoco (NYSE:SUNGet Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently weighed in on SUN. Barclays upped their target price on Sunoco from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised Sunoco from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $43.00 to $47.00 in a report on Friday, December 16th. Royal Bank of Canada raised their target price on Sunoco from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Citigroup assumed coverage on Sunoco in a research note on Thursday, December 8th. They issued a “neutral” rating and a $44.00 price target for the company. Finally, Mizuho increased their price target on shares of Sunoco from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Sunoco Stock Performance

NYSE:SUN opened at $45.68 on Friday. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.41 and a quick ratio of 0.82. The business has a fifty day simple moving average of $43.40 and a two-hundred day simple moving average of $41.18. Sunoco has a 1 year low of $34.26 and a 1 year high of $46.95. The company has a market capitalization of $4.58 billion, a P/E ratio of 8.75 and a beta of 1.37.

Sunoco (NYSE:SUNGet Rating) last posted its earnings results on Tuesday, November 1st. The oil and gas company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.39). Sunoco had a return on equity of 56.02% and a net margin of 2.10%. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.58 billion. On average, analysts expect that Sunoco will post 5.39 earnings per share for the current year.

Institutional Investors Weigh In On Sunoco

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Sunoco during the 2nd quarter worth $75,000. Captrust Financial Advisors raised its position in Sunoco by 60.3% during the first quarter. Captrust Financial Advisors now owns 2,549 shares of the oil and gas company’s stock worth $104,000 after acquiring an additional 959 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in Sunoco during the second quarter worth about $102,000. US Bancorp DE grew its holdings in shares of Sunoco by 600.0% during the second quarter. US Bancorp DE now owns 3,500 shares of the oil and gas company’s stock worth $131,000 after buying an additional 3,000 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Sunoco by 46.9% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,069 shares of the oil and gas company’s stock worth $175,000 after buying an additional 1,299 shares in the last quarter. 16.16% of the stock is currently owned by institutional investors and hedge funds.

About Sunoco

(Get Rating)

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.

See Also

Analyst Recommendations for Sunoco (NYSE:SUN)

Receive News & Ratings for Sunoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco and related companies with MarketBeat.com's FREE daily email newsletter.