Investment analysts at Janney Montgomery Scott assumed coverage on shares of Sunoco (NYSE:SUN) in a note issued to investors on Friday, MarketBeat reports. The firm set a “neutral” rating and a $33.00 price target on the oil and gas company’s stock. Janney Montgomery Scott’s target price would suggest a potential upside of 3.87% from the stock’s previous close.
Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Royal Bank of Canada reissued a “buy” rating and set a $35.00 price objective on shares of Sunoco in a report on Tuesday, October 10th. Jefferies Group reissued a “neutral” rating on shares of Sunoco in a report on Wednesday, December 20th. B. Riley set a $32.00 price objective on Sunoco and gave the company a “neutral” rating in a report on Monday, December 18th. Finally, Goldman Sachs Group raised Sunoco from a “sell” rating to a “neutral” rating and set a $33.00 price objective on the stock in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.69.
Sunoco (NYSE SUN) traded up $0.34 on Friday, hitting $31.77. The stock had a trading volume of 220,338 shares, compared to its average volume of 515,116. Sunoco has a 52 week low of $23.09 and a 52 week high of $32.67. The company has a debt-to-equity ratio of 2.28, a current ratio of 4.02 and a quick ratio of 3.75. The stock has a market cap of $3,160.00, a P/E ratio of -6.19 and a beta of 0.56.
Sunoco (NYSE:SUN) last posted its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.67. Sunoco had a positive return on equity of 12.43% and a negative net margin of 4.89%. equities analysts forecast that Sunoco will post 0.75 earnings per share for the current year.
In other Sunoco news, insider Arnold Dodderer sold 2,512 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $28.98, for a total value of $72,797.76. Following the sale, the insider now owns 23,923 shares of the company’s stock, valued at approximately $693,288.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Sunoco by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,450,389 shares of the oil and gas company’s stock valued at $44,440,000 after buying an additional 173,588 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Sunoco by 1.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,340,350 shares of the oil and gas company’s stock valued at $41,028,000 after buying an additional 17,894 shares during the last quarter. Harvest Fund Advisors LLC grew its holdings in Sunoco by 26.6% in the 3rd quarter. Harvest Fund Advisors LLC now owns 1,339,519 shares of the oil and gas company’s stock valued at $41,659,000 after buying an additional 281,414 shares during the last quarter. Bank of Montreal Can grew its holdings in Sunoco by 7.1% in the 4th quarter. Bank of Montreal Can now owns 425,097 shares of the oil and gas company’s stock valued at $12,073,000 after buying an additional 28,354 shares during the last quarter. Finally, Adams Asset Advisors LLC grew its holdings in Sunoco by 7.8% in the 4th quarter. Adams Asset Advisors LLC now owns 247,143 shares of the oil and gas company’s stock valued at $7,018,000 after buying an additional 17,926 shares during the last quarter. 26.32% of the stock is currently owned by hedge funds and other institutional investors.
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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.