Sunoco (NYSE:SUN) Price Target Raised to $67.00 at Wells Fargo & Company

Sunoco (NYSE:SUN) had its price target boosted by investment analysts at Wells Fargo & Company from $65.00 to $67.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.35% from the stock’s current price.

SUN has been the topic of a number of other research reports. Barclays set a $63.00 price objective on Sunoco in a research report on Friday. Zacks Research lowered Sunoco from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Raymond James Financial upgraded shares of 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. Weiss Ratings lowered shares of Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Stifel Nicolaus raised their price target on shares of Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Sunoco presently has an average rating of “Moderate Buy” and a consensus price target of $66.17.

Sunoco Stock Up 0.1%

Shares of NYSE SUN opened at $61.84 on Wednesday. The stock has a market cap of $12.65 billion, a PE ratio of 27.24 and a beta of 0.51. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06. Sunoco has a 12-month low of $47.98 and a 12-month high of $63.59. The company has a 50-day moving average of $56.67 and a 200 day moving average of $53.75.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). The business had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $9.65 billion. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The company’s revenue for the quarter was up 63.2% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. As a group, sell-side analysts predict that Sunoco will post 10.65 EPS for the current fiscal year.

Institutional Trading of Sunoco

Hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. grew its holdings in Sunoco by 3.2% in the 4th quarter. Alps Advisors Inc. now owns 24,856,265 shares of the oil and gas company’s stock valued at $1,302,717,000 after buying an additional 766,781 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sunoco by 13.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,179,502 shares of the oil and gas company’s stock valued at $159,007,000 after purchasing an additional 374,396 shares during the period. Energy Income Partners LLC grew its holdings in Sunoco by 1.7% in the third quarter. Energy Income Partners LLC now owns 1,916,858 shares of the oil and gas company’s stock valued at $95,862,000 after purchasing an additional 32,866 shares during the period. Morgan Stanley increased its position in Sunoco by 60.5% during the fourth quarter. Morgan Stanley now owns 1,639,420 shares of the oil and gas company’s stock worth $85,922,000 after purchasing an additional 617,700 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Sunoco by 266.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,626,278 shares of the oil and gas company’s stock worth $85,233,000 after purchasing an additional 1,182,662 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

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.