Sunoco (NYSE:SUN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Sunoco LP operates as a wholesale fuel distributor. It engages in distributing motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Company also operates convenience stores and retail fuel sites. Sunoco LP, formerly known as Susser Petroleum Partners LP, is based in Houston, Texas. “

Several other analysts have also recently issued reports on the stock. Mitsubishi UFJ Financial Group reaffirmed an “underweight” rating on shares of Sunoco in a research note on Thursday, November 9th. Robert W. Baird reaffirmed a “buy” rating and set a $36.00 price objective on shares of Sunoco in a research note on Friday, November 10th. Mizuho reaffirmed a “sell” rating and set a $29.00 price objective on shares of Sunoco in a research note on Friday, October 20th. Jefferies Group reaffirmed a “hold” rating and set a $30.00 price objective on shares of Sunoco in a research note on Friday, October 13th. Finally, BidaskClub cut shares of Sunoco from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $31.50.

Shares of Sunoco (NYSE:SUN) opened at $29.34 on Thursday. Sunoco has a one year low of $21.90 and a one year high of $32.67. The stock has a market cap of $3,370.14, a PE ratio of 17.21 and a beta of 0.56. The company has a debt-to-equity ratio of 2.28, a quick ratio of 3.75 and a current ratio of 4.02.

In other Sunoco news, Director Stephen Pearce sold 250,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $0.44, for a total value of $110,000.00.

Several hedge funds have recently modified their holdings of SUN. Alliancebernstein L.P. lifted its holdings in shares of Sunoco by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 11,969 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 3,456 shares during the last quarter. Credit Suisse AG lifted its holdings in shares of Sunoco by 3.1% in the 1st quarter. Credit Suisse AG now owns 50,663 shares of the oil and gas company’s stock worth $1,224,000 after acquiring an additional 1,522 shares during the last quarter. Beach Investment Management LLC. acquired a new position in shares of Sunoco in the 2nd quarter worth approximately $361,000. BB&T Securities LLC lifted its holdings in shares of Sunoco by 17.4% in the 2nd quarter. BB&T Securities LLC now owns 39,085 shares of the oil and gas company’s stock worth $1,196,000 after acquiring an additional 5,785 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP acquired a new position in shares of Sunoco in the 2nd quarter worth approximately $535,000. Hedge funds and other institutional investors own 26.33% of the company’s stock.

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About Sunoco

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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