Sunoco (SUN) Lifted to Overweight at JPMorgan Chase & Co.
JPMorgan Chase & Co. upgraded shares of Sunoco (NYSE:SUN) from a neutral rating to an overweight rating in a report released on Tuesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $29.20 target price on the oil and gas company’s stock.
Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reiterated a buy rating and issued a $35.00 price objective on shares of Sunoco in a research note on Tuesday, October 10th. Zacks Investment Research upgraded shares of Sunoco from a hold rating to a buy rating and set a $34.00 price objective for the company in a research note on Thursday, November 16th. Robert W. Baird restated a buy rating and set a $36.00 target price on shares of Sunoco in a research report on Friday, November 10th. Jefferies Group restated a hold rating and set a $30.00 target price (up previously from $29.00) on shares of Sunoco in a research report on Monday, September 11th. Finally, Credit Suisse Group started coverage on shares of Sunoco in a research report on Thursday, January 4th. They set a neutral rating and a $28.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $31.61.
Shares of Sunoco (SUN) traded up $0.79 during midday trading on Tuesday, hitting $31.59. 653,906 shares of the company traded hands, compared to its average volume of 561,622. The company has a debt-to-equity ratio of 2.28, a current ratio of 4.02 and a quick ratio of 3.75. Sunoco has a 12-month low of $23.09 and a 12-month high of $32.67. The firm has a market capitalization of $3,140.00, a PE ratio of -6.16 and a beta of 0.56.
In other Sunoco news, insider Arnold Dodderer sold 2,512 shares of Sunoco stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $28.98, for a total transaction of $72,797.76. Following the completion of the transaction, the insider now owns 23,923 shares in the company, valued at $693,288.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Beach Investment Management LLC. purchased a new stake in shares of Sunoco during the second quarter worth about $361,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Sunoco by 17.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the oil and gas company’s stock worth $423,000 after buying an additional 2,102 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sunoco by 176.6% during the second quarter. JPMorgan Chase & Co. now owns 1,276,801 shares of the oil and gas company’s stock worth $39,084,000 after buying an additional 815,130 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Sunoco by 9.0% during the second quarter. Private Advisor Group LLC now owns 19,092 shares of the oil and gas company’s stock worth $577,000 after buying an additional 1,583 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Sunoco by 5.9% during the second quarter. Alliancebernstein L.P. now owns 12,679 shares of the oil and gas company’s stock worth $388,000 after buying an additional 710 shares in the last quarter. Institutional investors own 26.32% of the company’s stock.
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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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