Sunoco (NYSE:SUN) Stock Passes Above 200-Day Moving Average – Should You Sell?

Sunoco LP (NYSE:SUN)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $60.49 and traded as high as $67.41. Sunoco shares last traded at $66.3020, with a volume of 309,479 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on SUN. Zacks Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Wall Street Zen upgraded Sunoco from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Wells Fargo & Company boosted their target price on Sunoco from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Raymond James Financial restated a “strong-buy” rating and set a $80.00 target price on shares of Sunoco in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their target price on Sunoco to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. One investment 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. According to MarketBeat, Sunoco presently has an average rating of “Buy” and an average target price of $74.13.

Sunoco Stock Down 2.4%

The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92. The stock has a market cap of $13.28 billion, a PE ratio of 16.58 and a beta of 0.46. The business has a fifty day moving average of $66.87 and a 200-day moving average of $60.52.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.Sunoco’s quarterly revenue was up 106.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 earnings per share. Equities research analysts anticipate that Sunoco LP will post 7.92 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.9899 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 dividend on an annualized basis and a dividend yield of 6.1%. Sunoco’s dividend payout ratio (DPR) is presently 101.28%.

Institutional Trading of Sunoco

A number of large investors have recently modified their holdings of the company. Western Wealth Management LLC purchased a new stake in shares of Sunoco in the first quarter valued at approximately $138,000. NewEdge Advisors LLC boosted its holdings in shares of Sunoco by 14.1% in the first quarter. NewEdge Advisors LLC now owns 8,704 shares of the oil and gas company’s stock valued at $565,000 after purchasing an additional 1,076 shares during the period. Bank of America Corp DE lifted its holdings in Sunoco by 32.0% during the first quarter. Bank of America Corp DE now owns 204,609 shares of the oil and gas company’s stock worth $13,293,000 after buying an additional 49,589 shares during the period. Royal Bank of Canada lifted its holdings in Sunoco by 7.2% during the first quarter. Royal Bank of Canada now owns 190,474 shares of the oil and gas company’s stock worth $12,375,000 after buying an additional 12,806 shares during the period. Finally, Recurrent Investment Advisors LLC lifted its holdings in Sunoco by 51.5% during 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 period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

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.