Sunoco (NYSE:SUN) Shares Cross Above 200-Day Moving Average – Time to Sell?

Sunoco LP (NYSE:SUN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $67.11 and traded as high as $76.60. Sunoco shares last traded at $76.10, with a volume of 337,792 shares traded.

Analyst Ratings Changes

SUN has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Sunoco from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $80.00 price target on shares of Sunoco in a report on Wednesday, May 6th. Mizuho set a $83.00 price target on Sunoco in a research note on Friday, July 24th. Royal Bank Of Canada boosted their price objective on Sunoco to $78.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Wells Fargo & Company upped their price objective on Sunoco from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $79.00.

Sunoco Stock Up 0.9%

The company has a debt-to-equity ratio of 1.95, a current ratio of 1.29 and a quick ratio of 0.83. The stock has a market cap of $15.59 billion, a PE ratio of 16.84 and a beta of 0.41. The business has a fifty day moving average of $71.19 and a 200-day moving average of $67.11.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.94 EPS for the quarter, missing the consensus estimate of $2.50 by ($1.56). The firm had revenue of $14.26 billion for the quarter, compared to analysts’ expectations of $11.05 billion. Sunoco had a return on equity of 18.78% and a net margin of 2.88%.The company’s revenue for the quarter was up 164.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. Equities research analysts anticipate that Sunoco LP will post 9.88 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a dividend of $1.0023 per share. This is an increase from Sunoco’s previous quarterly dividend of $0.99. This represents a $4.01 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Friday, August 7th. Sunoco’s payout ratio is 88.72%.

Institutional Trading of Sunoco

Several institutional investors and hedge funds have recently made changes to their positions in SUN. Wedbush Securities Inc. grew its holdings in Sunoco by 2.8% during the 2nd quarter. Wedbush Securities Inc. now owns 6,110 shares of the oil and gas company’s stock worth $412,000 after acquiring an additional 166 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Sunoco by 3.0% in the 1st quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company’s stock valued at $379,000 after purchasing an additional 168 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Sunoco by 2.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock worth $509,000 after purchasing an additional 205 shares during the period. IHT Wealth Management LLC lifted its position in shares of Sunoco by 2.1% in the 2nd quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company’s stock worth $552,000 after purchasing an additional 212 shares during the period. Finally, PFG Investments LLC lifted its position in shares of Sunoco by 4.1% in the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the oil and gas company’s stock worth $402,000 after purchasing an additional 237 shares during the period. 24.29% of the stock is currently owned by institutional investors.

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.