OP Asset Management Ltd Makes New Investment in SunocoCorp LLC $SUNC

OP Asset Management Ltd acquired a new stake in SunocoCorp LLC (NYSE:SUNC) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 24,273 shares of the company’s stock, valued at approximately $1,496,000.

Other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in shares of SunocoCorp in the fourth quarter worth $126,936,000. Millennium Management LLC bought a new stake in SunocoCorp during the fourth quarter worth about $76,886,000. Norges Bank bought a new stake in SunocoCorp during the fourth quarter worth about $74,696,000. Morgan Stanley acquired a new stake in SunocoCorp during the fourth quarter worth about $73,776,000. Finally, Engine Capital Management LP acquired a new stake in SunocoCorp during the fourth quarter worth about $67,976,000.

Analyst Ratings Changes

SUNC has been the subject of several analyst reports. Barclays boosted their target price on shares of SunocoCorp from $63.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Zacks Research upgraded shares of SunocoCorp from a “strong sell” rating to a “hold” rating in a research report on Friday, June 19th. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 price objective on shares of SunocoCorp in a research note on Wednesday, May 6th. Finally, Citigroup boosted their price objective on shares of SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SunocoCorp has an average rating of “Buy” and an average target price of $75.33.

SunocoCorp Stock Up 1.9%

SunocoCorp stock opened at $68.29 on Tuesday. SunocoCorp LLC has a 12-month low of $47.00 and a 12-month high of $73.24. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 1.40. The company has a 50-day simple moving average of $66.32. The company has a market capitalization of $3.52 billion and a PE ratio of 32.06.

SunocoCorp (NYSE:SUNC) last posted its earnings results on Tuesday, May 5th. The company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.47. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.56 billion. As a group, analysts expect that SunocoCorp LLC will post 6.88 earnings per share for the current year.

SunocoCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.9899 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.96 annualized dividend and a yield of 5.8%. SunocoCorp’s dividend payout ratio is presently 185.92%.

About SunocoCorp

Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.