Sunoco LP (NYSE:SUN) Earns “Neutral” Rating from UBS AG
Sunoco LP (NYSE:SUN)‘s stock had its “neutral” rating reaffirmed by equities researchers at UBS AG in a research report issued on Monday, www.flashratings.com reports. They presently have a $30.00 target price on the oil and gas company’s stock, up from their prior target price of $28.00. UBS AG’s price objective suggests a potential downside of 3.29% from the stock’s current price.
Several other research firms have also commented on SUN. Mizuho lowered Sunoco from a “neutral” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Monday, July 10th. BidaskClub raised Sunoco from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. TheStreet raised Sunoco from a “d+” rating to a “c-” rating in a report on Wednesday, April 26th. Deutsche Bank AG raised Sunoco from a “hold” rating to a “buy” rating and upped their target price for the company from $31.00 to $36.00 in a report on Thursday, July 13th. Finally, Vetr raised Sunoco from a “hold” rating to a “buy” rating and set a $32.56 target price for the company in a report on Thursday, June 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $31.04.
Sunoco (SUN) traded up 1.71% on Monday, reaching $31.55. The company had a trading volume of 67,909 shares. The firm’s market capitalization is $3.14 billion. The stock has a 50 day moving average of $30.99 and a 200 day moving average of $28.91. Sunoco has a 12 month low of $21.01 and a 12 month high of $32.67.
Institutional investors have recently modified their holdings of the company. Clinton Group Inc. acquired a new position in shares of Sunoco during the first quarter worth about $655,000. JPMorgan Chase & Co. increased its stake in Sunoco by 534.9% in the first quarter. JPMorgan Chase & Co. now owns 461,671 shares of the oil and gas company’s stock worth $11,158,000 after buying an additional 388,951 shares during the period. Wells Fargo & Company MN increased its stake in Sunoco by 68.2% in the first quarter. Wells Fargo & Company MN now owns 112,880 shares of the oil and gas company’s stock worth $2,729,000 after buying an additional 45,785 shares during the period. Proficio Capital Partners LLC purchased a new stake in Sunoco during the first quarter worth $282,000. Finally, Adams Asset Advisors LLC increased its stake in Sunoco by 2.3% in the first quarter. Adams Asset Advisors LLC now owns 289,757 shares of the oil and gas company’s stock worth $7,003,000 after buying an additional 6,579 shares during the period. 27.43% of the stock is owned by institutional investors and hedge funds.
Sunoco Company Profile
Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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