JPMorgan Chase & Co. Issues Positive Forecast for Sunoco (NYSE:SUN) Stock Price

Sunoco (NYSE:SUN) had its price objective lifted by JPMorgan Chase & Co. from $73.00 to $84.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other research firms also recently issued reports on SUN. Mizuho set a $83.00 price objective on shares of Sunoco in a report on Friday. Weiss Ratings raised shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 21st. Citigroup lifted their price target on shares of Sunoco from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Royal Bank Of Canada boosted their price target on shares of Sunoco to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Barclays increased their price objective on shares of Sunoco from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $77.12.

Sunoco Trading Up 0.8%

Shares of NYSE:SUN opened at $75.17 on Friday. The firm has a market cap of $15.40 billion, a price-to-earnings ratio of 19.22 and a beta of 0.42. Sunoco has a 12 month low of $47.98 and a 12 month high of $77.03. The company’s fifty day simple moving average is $68.17 and its 200 day simple moving average is $64.57. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03.

Sunoco (NYSE:SUN) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $1.14. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.19 billion. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The company’s revenue for the quarter was up 106.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. As a group, research analysts forecast that Sunoco will post 7.92 EPS for the current fiscal year.

Institutional Trading of Sunoco

Hedge funds have recently modified their holdings of the stock. Ancora Advisors LLC bought a new position in shares of Sunoco during the third quarter worth approximately $40,000. Glen Eagle Advisors LLC raised its position in shares of Sunoco by 496.5% in the fourth quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 710 shares in the last quarter. Cresta Advisors Ltd. bought a new stake in shares of Sunoco in the fourth quarter valued at approximately $64,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Sunoco in the first quarter valued at approximately $78,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Sunoco by 110.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 823 shares during the period. Institutional investors and hedge funds 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.