Sunoco (NYSE:SUN) Price Target Raised to $71.00

Sunoco (NYSE:SUN) had its price objective increased by Wells Fargo & Company from $67.00 to $71.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 11.96% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Weiss Ratings downgraded shares of Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Stifel Nicolaus lifted their price objective on shares of Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Wall Street Zen downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Zacks Research cut shares of Sunoco from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Finally, Barclays set a $63.00 price target on Sunoco in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.83.

Sunoco Stock Performance

Shares of Sunoco stock traded up $0.57 on Friday, hitting $63.42. The stock had a trading volume of 165,675 shares, compared to its average volume of 477,940. The stock has a market cap of $12.99 billion, a price-to-earnings ratio of 27.93 and a beta of 0.49. The company has a quick ratio of 0.78, a current ratio of 1.38 and a debt-to-equity ratio of 2.06. Sunoco has a twelve month low of $47.98 and a twelve month high of $65.24. The business’s 50 day moving average is $59.30 and its two-hundred day moving average is $54.68.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($1.55). Sunoco had a net margin of 2.01% and a return on equity of 10.76%. The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $9.65 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 63.2% compared to the same quarter last year. Analysts forecast that Sunoco will post 10.65 EPS for the current year.

Hedge Funds Weigh In On Sunoco

A number of institutional investors have recently added to or reduced their stakes in SUN. Steigerwald Gordon & Koch Inc. bought a new position in shares of Sunoco in the 3rd quarter valued at $31,000. Ancora Advisors LLC acquired a new position in Sunoco in the 3rd quarter worth about $40,000. Glen Eagle Advisors LLC raised its position in 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 purchasing an additional 710 shares during the last quarter. Cresta Advisors Ltd. acquired a new position in shares of Sunoco in the fourth quarter valued at approximately $64,000. Finally, Russell Investments Group Ltd. raised its holdings in Sunoco by 110.3% in the 4th 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 last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

About Sunoco

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.