Sunoco (NYSE:SUN) Lowered to Hold Rating by Wall Street Zen

Sunoco (NYSE:SUN) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts also recently weighed in on SUN. Wells Fargo & Company set a $65.00 target price on shares of Sunoco and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Barclays set a $60.00 price objective on shares of Sunoco and gave the company an “overweight” rating in a report on Friday, February 6th. Weiss Ratings upgraded Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Zacks Research cut Sunoco from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Raymond James Financial raised Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price objective on the stock in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Sunoco has a consensus rating of “Buy” and an average target price of $65.60.

Sunoco Price Performance

Shares of SUN stock opened at $59.50 on Friday. Sunoco has a fifty-two week low of $47.98 and a fifty-two week high of $60.62. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.50 and a current ratio of 3.11. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 20.31 and a beta of 0.51. The stock’s 50-day simple moving average is $55.56 and its 200-day simple moving average is $53.38.

Hedge Funds Weigh In On Sunoco

A number of institutional investors have recently modified their holdings of the stock. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Sunoco in the 3rd quarter valued at about $31,000. Ancora Advisors LLC acquired a new stake in Sunoco during the third quarter worth about $40,000. Cresta Advisors Ltd. purchased a new position in Sunoco during the fourth quarter valued at approximately $64,000. Bessemer Group Inc. lifted its holdings in Sunoco by 41.7% in the second quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 400 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Sunoco by 95.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock worth $74,000 after purchasing an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Company Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.