Sunoco (NYSE:SUN) Releases Quarterly Earnings Results, Misses Estimates By $1.55 EPS

Sunoco (NYSE:SUN) issued its earnings results on Tuesday. The oil and gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($1.55), FiscalAI reports. Sunoco had a net margin of 2.61% and a return on equity of 13.94%. The company had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $9.65 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company’s revenue was up 63.2% compared to the same quarter last year.

Sunoco Trading Down 1.3%

Shares of SUN stock traded down $0.80 on Tuesday, hitting $58.71. 61,334 shares of the stock traded hands, compared to its average volume of 431,984. 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 stock has a market capitalization of $12.01 billion, a PE ratio of 19.98 and a beta of 0.51. The firm’s 50-day moving average price is $55.68 and its two-hundred day moving average price is $53.39. Sunoco has a twelve month low of $47.98 and a twelve month high of $60.62.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be paid a dividend of $0.9317 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $3.73 annualized dividend and a yield of 6.3%. This is a boost from Sunoco’s previous quarterly dividend of $0.92. Sunoco’s dividend payout ratio is currently 127.30%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SUN shares. Wall Street Zen lowered shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research cut Sunoco from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings raised Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Raymond James Financial upgraded shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a research report on Monday, January 5th. Finally, Barclays set a $60.00 price objective on shares of Sunoco and gave the stock an “overweight” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Sunoco currently has an average rating of “Buy” and a consensus target price of $65.60.

Institutional Trading of Sunoco

Several institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Sunoco by 6.4% during the 1st quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company’s stock worth $9,239,000 after buying an additional 9,592 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Sunoco by 10.9% during the second quarter. Brown Advisory Inc. now owns 12,174 shares of the oil and gas company’s stock valued at $652,000 after acquiring an additional 1,201 shares during the period. NewEdge Advisors LLC raised its position in Sunoco by 226.2% in the second quarter. NewEdge Advisors LLC now owns 7,088 shares of the oil and gas company’s stock worth $380,000 after acquiring an additional 4,915 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Sunoco by 5.5% during the second quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company’s stock worth $19,611,000 after buying an additional 18,990 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Sunoco by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 37,488 shares of the oil and gas company’s stock valued at $1,996,000 after purchasing an additional 2,810 shares during the period. 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.