Sunoco (NYSE:SUN) Price Target Raised to $84.00

Sunoco (NYSE:SUN) had its target price boosted by JPMorgan Chase & Co. from $73.00 to $84.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other research firms have also recently commented on SUN. Barclays upped their price target on Sunoco from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Wall Street Zen raised Sunoco from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Royal Bank Of Canada boosted their price objective on Sunoco to $78.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Mizuho set a $83.00 target price on Sunoco in a report on Friday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 target price on shares of Sunoco in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $77.12.

Sunoco Price Performance

SUN stock opened at $75.17 on Friday. Sunoco has a 52-week low of $47.98 and a 52-week high of $77.03. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03. The stock has a market cap of $15.40 billion, a price-to-earnings ratio of 19.22 and a beta of 0.42. The business has a fifty day moving average of $68.17 and a two-hundred day moving average of $64.65.

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

Institutional Investors Weigh In On Sunoco

Several large investors have recently bought and sold shares of SUN. Ancora Advisors LLC purchased a new position in shares of Sunoco in the 3rd quarter valued at about $40,000. Glen Eagle Advisors LLC increased its stake in shares of Sunoco by 496.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after buying an additional 710 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Sunoco during the first quarter worth approximately $78,000. Cresta Advisors Ltd. purchased a new stake in shares of Sunoco during the fourth quarter worth approximately $64,000. Finally, Russell Investments Group Ltd. raised its holdings in Sunoco by 110.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock valued at $82,000 after acquiring an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Company Profile

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.