Mizuho Forecasts Strong Price Appreciation for Sunoco (NYSE:SUN) Stock

Sunoco (NYSE:SUN) had its price target increased by Mizuho from $61.00 to $66.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s price objective points to a potential upside of 11.42% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada increased their price target on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays upped their target price on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.43.

Sunoco Trading Up 2.7 %

Sunoco stock opened at $59.24 on Monday. Sunoco has a 52 week low of $49.45 and a 52 week high of $64.89. The stock has a 50-day moving average price of $53.75 and a 200 day moving average price of $53.34. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 13.62 and a beta of 1.36.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same period last year, the company earned $2.95 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. Sell-side analysts anticipate that Sunoco will post 9.63 EPS for the current year.

Institutional Investors Weigh In On Sunoco

A number of institutional investors and hedge funds have recently made changes to their positions in SUN. Independence Bank of Kentucky purchased a new stake in shares of Sunoco in the 4th quarter valued at approximately $53,000. Global Retirement Partners LLC grew its stake in Sunoco by 93.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock worth $84,000 after buying an additional 788 shares during the last quarter. Allworth Financial LP grew its position in Sunoco by 90.6% during the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 819 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Sunoco by 112.5% during the fourth quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company’s stock worth $126,000 after buying an additional 1,295 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in shares of Sunoco during the fourth quarter worth about $129,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Company Profile

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.