Norges Bank Buys New Shares in SunocoCorp LLC $SUNC

Norges Bank bought a new stake in SunocoCorp LLC (NYSE:SUNC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,515,745 shares of the company’s stock, valued at approximately $74,696,000. Norges Bank owned 0.74% of SunocoCorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Danske Bank A S acquired a new position in SunocoCorp in the fourth quarter valued at $133,000. Northwestern Mutual Wealth Management Co. acquired a new position in SunocoCorp in the fourth quarter valued at $312,000. Gabelli Funds LLC acquired a new position in SunocoCorp in the fourth quarter valued at $320,000. Pictet Asset Management Holding SA acquired a new position in SunocoCorp in the fourth quarter valued at $327,000. Finally, Arizona State Retirement System acquired a new position in SunocoCorp in the fourth quarter valued at $571,000.

SunocoCorp Stock Down 1.0%

NYSE:SUNC opened at $66.77 on Friday. The stock’s 50-day simple moving average is $65.24. SunocoCorp LLC has a one year low of $47.00 and a one year high of $73.24.

SunocoCorp (NYSE:SUNC) last posted its earnings results on Tuesday, May 5th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.66 by $0.47. The business had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.56 billion. On average, equities analysts predict that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $0.9899 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.96 annualized dividend and a dividend yield of 5.9%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Citigroup upped their price objective on shares of SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a report on Friday, May 8th. Barclays upped their price objective on shares of SunocoCorp from $63.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Zacks Research lowered shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price objective on shares of SunocoCorp in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of SunocoCorp to a “hold” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SunocoCorp has a consensus rating of “Moderate Buy” and an average price target of $75.33.

About SunocoCorp

Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.