Sunoco (NYSE:SUN) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Sunoco LP (NYSE:SUN)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $57.31 and traded as high as $64.15. Sunoco shares last traded at $63.1260, with a volume of 296,861 shares changing hands.

Wall Street Analyst Weigh In

SUN has been the topic of several recent research reports. Barclays set a $63.00 price target on shares of Sunoco in a research report on Friday, February 20th. Raymond James Financial upgraded shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a report on Monday, January 5th. Zacks Research raised shares of Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Wells Fargo & Company increased their price objective on shares of Sunoco from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Finally, Weiss Ratings raised shares of Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $67.83.

Sunoco Price Performance

The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.78 and a current ratio of 1.38. The company has a market cap of $12.93 billion, a P/E ratio of 27.81 and a beta of 0.48. The firm has a 50 day moving average price of $63.65 and a two-hundred day moving average price of $57.36.

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

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were given a $0.9317 dividend. This represents a $3.73 annualized dividend and a dividend yield of 5.9%. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, February 6th. Sunoco’s dividend payout ratio (DPR) is currently 163.88%.

Hedge Funds Weigh In On Sunoco

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Compass Wealth Management LLC bought a new position in Sunoco in the third quarter valued at $644,000. Lee Financial Co boosted its holdings in shares of Sunoco by 573.1% in the 3rd quarter. Lee Financial Co now owns 25,705 shares of the oil and gas company’s stock worth $1,286,000 after purchasing an additional 21,886 shares in the last quarter. Truist Financial Corp bought a new position in shares of Sunoco during the 3rd quarter valued at about $1,161,000. Barclays PLC increased its position in shares of Sunoco by 33.7% during the 3rd quarter. Barclays PLC now owns 593,970 shares of the oil and gas company’s stock valued at $29,704,000 after purchasing an additional 149,732 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Sunoco by 2.6% during the 3rd quarter. Alps Advisors Inc. now owns 24,089,484 shares of the oil and gas company’s stock valued at $1,204,715,000 after buying an additional 599,655 shares in the last quarter. 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.