Sunoco (NYSE:SUN) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday.
Several other research analysts have also commented on SUN. Jefferies Group reaffirmed a “hold” rating and issued a $30.00 price target (up from $29.00) on shares of Sunoco in a report on Monday, September 11th. Credit Suisse Group assumed coverage on shares of Sunoco in a report on Thursday, January 4th. They issued a “neutral” rating and a $28.00 price target for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $35.00 price target on shares of Sunoco in a report on Tuesday, October 10th. B. Riley set a $32.00 price target on shares of Sunoco and gave the company a “neutral” rating in a report on Monday, December 18th. Finally, Goldman Sachs Group raised shares of Sunoco from a “sell” rating to a “neutral” rating and set a $33.00 price target for the company in a report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.72.
Shares of Sunoco (SUN) opened at $29.20 on Tuesday. Sunoco has a 1 year low of $23.09 and a 1 year high of $32.67. The company has a debt-to-equity ratio of 2.28, a current ratio of 4.02 and a quick ratio of 3.75. The firm has a market cap of $2,900.00, a PE ratio of -5.69 and a beta of 0.56.
A number of institutional investors have recently bought and sold shares of SUN. Beach Investment Management LLC. acquired a new position in Sunoco during the 2nd quarter valued at about $361,000. Cambridge Investment Research Advisors Inc. boosted its stake in Sunoco by 17.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 2,102 shares during the period. JPMorgan Chase & Co. boosted its stake in Sunoco by 176.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,276,801 shares of the oil and gas company’s stock valued at $39,084,000 after purchasing an additional 815,130 shares during the period. Private Advisor Group LLC boosted its stake in Sunoco by 9.0% during the 2nd quarter. Private Advisor Group LLC now owns 19,092 shares of the oil and gas company’s stock valued at $577,000 after purchasing an additional 1,583 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Sunoco by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 12,679 shares of the oil and gas company’s stock valued at $388,000 after purchasing an additional 710 shares during the period. 26.32% of the stock is owned by hedge funds and other institutional investors.
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Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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