Sunoco (NYSE:SUN) Sees Large Volume Increase After Insider Buying Activity

Shares of Sunoco LP (NYSE:SUNGet Free Report) saw unusually-strong trading volume on Wednesday after an insider bought additional shares in the company. Approximately 447,719 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 543,966 shares.The stock last traded at $49.79 and had previously closed at $50.36.

Specifically, EVP Brian A. Hand bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $49.59 per share, for a total transaction of $99,180.00. Following the completion of the acquisition, the executive vice president now directly owns 153,255 shares in the company, valued at $7,599,915.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David K. Skidmore bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average cost of $52.10 per share, with a total value of $78,150.00. Following the transaction, the director now directly owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian A. Hand bought 2,000 shares of the stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $49.59 per share, for a total transaction of $99,180.00. Following the completion of the transaction, the executive vice president now directly owns 153,255 shares of the company’s stock, valued at $7,599,915.45. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 8,500 shares of company stock worth $429,830.

Analysts Set New Price Targets

A number of research firms have weighed in on SUN. Citigroup lowered shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Tuesday, February 27th. StockNews.com upgraded Sunoco from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Stifel Nicolaus downgraded Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Tuesday, February 20th. Wells Fargo & Company lifted their target price on Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. increased their price target on Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Sunoco currently has an average rating of “Hold” and a consensus price target of $62.71.

Check Out Our Latest Stock Report on SUN

Sunoco Trading Down 1.3 %

The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65 and a quick ratio of 1.07. The company has a market capitalization of $5.01 billion, a P/E ratio of 11.07 and a beta of 1.29. The firm has a fifty day moving average price of $55.39 and a 200-day moving average price of $57.51.

Sunoco (NYSE:SUNGet Free Report) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.13 billion. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. On average, equities research analysts anticipate that Sunoco LP will post 5.07 earnings per share for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a $0.876 dividend. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.50 annualized dividend and a yield of 7.05%. Sunoco’s payout ratio is currently 77.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SUN. Principal Securities Inc. bought a new position in shares of Sunoco during the 4th quarter worth $27,000. ICA Group Wealth Management LLC purchased a new stake in Sunoco during the fourth quarter valued at about $30,000. CNB Bank bought a new position in Sunoco during the first quarter worth about $30,000. Allworth Financial LP increased its stake in shares of Sunoco by 250.0% in the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 500 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new stake in shares of Sunoco in the first quarter valued at approximately $55,000. 24.29% of the stock is owned by institutional investors.

Sunoco Company Profile

(Get Free Report)

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.

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