Sunoco (NYSE:SUN) Releases Quarterly Earnings Results, Beats Estimates By $1.14 EPS

Sunoco (NYSE:SUN) issued its quarterly earnings results on Tuesday. The oil and gas company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14, FiscalAI reports. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $10.19 billion. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.Sunoco’s revenue was up 106.4% on a year-over-year basis. During the same period last year, the business posted $1.21 earnings per share.

Sunoco Stock Performance

Shares of NYSE:SUN traded up $0.94 during midday trading on Tuesday, hitting $69.20. The company had a trading volume of 64,096 shares, compared to its average volume of 467,426. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.38 and a quick ratio of 0.78. The company has a fifty day moving average of $64.83 and a two-hundred day moving average of $58.44. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 30.49 and a beta of 0.46. Sunoco has a 12-month low of $47.98 and a 12-month high of $70.00.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be paid a $0.9899 dividend. This is a boost from Sunoco’s previous quarterly dividend of $0.93. The ex-dividend date is Friday, May 8th. This represents a $3.96 annualized dividend and a dividend yield of 5.7%. Sunoco’s dividend payout ratio (DPR) is currently 164.32%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, March 24th. Zacks Research raised shares of Sunoco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 1st. Weiss Ratings lowered Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Stifel Nicolaus increased their target price on shares of Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Raymond James Financial upgraded Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price objective for the company in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.29.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC purchased a new position in shares of Sunoco during the third quarter valued at about $40,000. Russell Investments Group Ltd. boosted its stake in shares of Sunoco by 110.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 823 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Sunoco during the fourth quarter valued at approximately $95,000. State of Wyoming bought a new position in Sunoco in the 2nd quarter valued at $111,000. Finally, Advisory Services Network LLC bought a new stake in Sunoco during the 3rd quarter valued at about $134,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

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.