683 Capital Management LLC Makes New Investment in SunocoCorp LLC $SUNC

683 Capital Management LLC acquired a new position in SunocoCorp LLC (NYSE:SUNC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 235,000 shares of the company’s stock, valued at approximately $11,581,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC bought a new position in shares of SunocoCorp during the fourth quarter valued at $5,720,000. Polar Asset Management Partners Inc. bought a new stake in SunocoCorp in the 4th quarter worth about $6,653,000. BCV Asset Management Inc. bought a new stake in SunocoCorp in the 4th quarter worth about $61,116,000. TIG Advisors LLC bought a new stake in SunocoCorp in the 4th quarter worth about $54,605,000. Finally, Sagefield Capital LP bought a new stake in SunocoCorp in the 4th quarter worth about $3,461,000.

Analyst Upgrades and Downgrades

SUNC has been the subject of several research analyst reports. Zacks Research downgraded SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $80.00 price objective on shares of SunocoCorp in a report on Wednesday, May 6th. Citigroup lifted their price objective on SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Barclays lifted their price objective on SunocoCorp from $63.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, Wall Street Zen upgraded SunocoCorp to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.33.

SunocoCorp Stock Performance

NYSE SUNC opened at $62.69 on Thursday. The company has a market cap of $3.23 billion and a P/E ratio of 29.43. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.40 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $65.83. SunocoCorp LLC has a one year low of $47.00 and a one year high of $73.24.

SunocoCorp (NYSE:SUNC) last announced its earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.47. The firm had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.56 billion. On average, equities analysts predict that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.9899 dividend. This represents a $3.96 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Friday, May 8th. SunocoCorp’s dividend payout ratio (DPR) is presently 185.92%.

SunocoCorp Company Profile

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