Sunoco (NYSE:SUN) Receives New Coverage from Analysts at Barclays

Barclays began coverage on shares of Sunoco (NYSE:SUNFree Report) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $61.00 price target on the oil and gas company’s stock.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Sunoco in a research note on Wednesday, June 5th. They set an overweight rating and a $61.00 price target for the company. Stifel Nicolaus raised Sunoco from a hold rating to a buy rating and set a $62.00 target price for the company in a research report on Friday. Wells Fargo & Company lifted their price target on shares of Sunoco from $60.00 to $61.00 and gave the company an equal weight rating in a research report on Tuesday, February 20th. Citigroup downgraded shares of Sunoco from a buy rating to a neutral rating and set a $65.00 price objective for the company. in a report on Tuesday, February 27th. Finally, Mizuho upgraded shares of Sunoco from a neutral rating to a buy rating and lowered their target price for the company from $60.00 to $59.00 in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $62.00.

Check Out Our Latest Report on Sunoco

Sunoco Price Performance

Shares of SUN opened at $53.64 on Monday. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.07 and a current ratio of 1.65. The firm has a market cap of $5.41 billion, a PE ratio of 12.14 and a beta of 1.29. The firm’s 50 day moving average price is $54.38 and its 200 day moving average price is $57.49. Sunoco has a twelve month low of $43.00 and a twelve month high of $64.89.

Sunoco (NYSE:SUNGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. Sunoco had a net margin of 2.08% and a return on equity of 35.56%. The business had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.13 billion. As a group, research analysts expect that Sunoco will post 6.09 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.876 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.84. This represents a $3.50 annualized dividend and a yield of 6.53%. The ex-dividend date was Friday, May 10th. Sunoco’s dividend payout ratio is presently 77.95%.

Insiders Place Their Bets

In other news, CEO Joseph Kim bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $50.50 per share, with a total value of $252,500.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $505,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Joseph Kim bought 5,000 shares of Sunoco stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $50.50 per share, with a total value of $252,500.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $505,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David K. Skidmore purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were acquired at an average price of $52.10 per share, for a total transaction of $78,150.00. Following the purchase, the director now directly owns 14,608 shares of the company’s stock, valued at $761,076.80. The disclosure for this purchase can be found here. Insiders have purchased 9,500 shares of company stock worth $479,570 in the last ninety days.

Institutional Investors Weigh In On Sunoco

A number of institutional investors have recently added to or reduced their stakes in SUN. Good Life Advisors LLC boosted its stake in shares of Sunoco by 2.1% in the 4th quarter. Good Life Advisors LLC now owns 8,173 shares of the oil and gas company’s stock valued at $490,000 after purchasing an additional 166 shares in the last quarter. Brookstone Capital Management grew its stake in Sunoco by 1.9% during the fourth quarter. Brookstone Capital Management now owns 10,013 shares of the oil and gas company’s stock worth $600,000 after buying an additional 184 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Sunoco by 3.0% during the fourth quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company’s stock worth $574,000 after buying an additional 283 shares in the last quarter. XML Financial LLC raised its stake in shares of Sunoco by 1.3% in the fourth quarter. XML Financial LLC now owns 24,779 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 329 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Sunoco in the 4th quarter worth approximately $27,000. 24.29% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Sunoco (NYSE:SUN)

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