Sunoco (TXSE:SUN) Stock: Insider David Skidmore Acquires 1,500 Shares

Sunoco LP (TXSE:SUN) Director David Skidmore purchased 1,500 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was bought at an average price of $61.53 per share, with a total value of $92,295.00. Following the acquisition, the director owned 20,748 shares in the company, valued at $1,276,624.44. This trade represents a 7.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sunoco Stock Up 3.4%

Shares of TXSE:SUN opened at $65.34 on Thursday. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 14.46 and a beta of 0.42. The company has a 50 day moving average of $73.05 and a two-hundred day moving average of $68.72. Sunoco LP has a 52-week low of $50.20 and a 52-week high of $80.22. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.95.

Sunoco (TXSE:SUN) last posted its earnings results on Tuesday, November 3rd. The oil and gas company reported $2.07 EPS for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.39). The firm had revenue of $18.03 billion for the quarter, compared to analyst estimates of $11.76 billion. Sunoco had a return on equity of 18.78% and a net margin of 2.88%. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, analysts forecast that Sunoco LP will post 10.60 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be issued a dividend of $1.0148 per share. This represents a $4.06 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from Sunoco’s previous quarterly dividend of $1.0023. Sunoco’s dividend payout ratio (DPR) is 68.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays reaffirmed an “overweight” rating and set a $83.00 price target on shares of Sunoco in a research note on Thursday, October 15th. Wells Fargo & Company upped their price objective on shares of Sunoco from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Mizuho set a $83.00 target price on Sunoco in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sunoco in a research report on Tuesday, August 18th. Finally, Wall Street Zen lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $80.12.

Hedge Funds Weigh In On Sunoco

Several institutional investors and hedge funds have recently made changes to their positions in SUN. Recurrent Investment Advisors LLC increased its stake in shares of Sunoco by 51.5% in the first quarter. Recurrent Investment Advisors LLC now owns 1,027,877 shares of the oil and gas company’s stock worth $66,781,000 after buying an additional 349,254 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Sunoco by 2,633.2% in the third quarter. International Assets Investment Management LLC now owns 300,000 shares of the oil and gas company’s stock valued at $21,861,000 after acquiring an additional 289,024 shares in the last quarter. Infrastructure Capital Advisors LLC boosted its stake in Sunoco by 34.1% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 972,935 shares of the oil and gas company’s stock valued at $63,212,000 after acquiring an additional 247,569 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Sunoco during the 3rd quarter valued at $8,993,000. Finally, Advisors Asset Management Inc. bought a new position in Sunoco during the 3rd quarter valued at $4,187,000. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Company Profile

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand. Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.