Sunoco LP (SUN) Rating Increased to Buy at Deutsche Bank AG
Sunoco LP (NYSE:SUN) was upgraded by equities research analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $36.00 price objective on the oil and gas company’s stock, up from their previous price objective of $31.00. Deutsche Bank AG’s price objective indicates a potential upside of 16.39% from the company’s current price.
A number of other research analysts have also recently issued reports on SUN. Mizuho cut shares of Sunoco from a “neutral” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Monday, July 10th. BidaskClub raised shares of Sunoco from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $32.00 target price on shares of Sunoco in a report on Tuesday, June 20th. Vetr raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $32.56 target price for the company in a report on Thursday, June 1st. Finally, TheStreet raised shares of Sunoco from a “d+” rating to a “c-” rating in a report on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Sunoco currently has a consensus rating of “Hold” and an average price target of $31.04.
Shares of Sunoco (NYSE SUN) traded up 0.2583% during trading on Thursday, hitting $30.9397. The company had a trading volume of 52,602 shares. The firm’s market capitalization is $3.59 billion. The stock’s 50-day moving average is $30.15 and its 200 day moving average is $27.86. Sunoco has a 52-week low of $21.01 and a 52-week high of $31.50.
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Several institutional investors have recently made changes to their positions in SUN. SRS Capital Advisors Inc. raised its position in shares of Sunoco by 6.3% in the first quarter. SRS Capital Advisors Inc. now owns 7,123 shares of the oil and gas company’s stock worth $172,000 after buying an additional 420 shares during the period. Baldwin Brothers Inc. MA raised its position in shares of Sunoco by 25.0% in the first quarter. Baldwin Brothers Inc. MA now owns 7,500 shares of the oil and gas company’s stock worth $181,000 after buying an additional 1,500 shares during the period. Cypress Asset Management Inc. TX raised its position in shares of Sunoco by 0.7% in the first quarter. Cypress Asset Management Inc. TX now owns 11,036 shares of the oil and gas company’s stock worth $267,000 after buying an additional 74 shares during the period. Atria Investments LLC raised its position in shares of Sunoco by 2.1% in the first quarter. Atria Investments LLC now owns 11,393 shares of the oil and gas company’s stock worth $275,000 after buying an additional 233 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Sunoco during the first quarter worth $282,000. Institutional investors own 27.47% of the company’s stock.
Sunoco Company Profile
Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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