Sunoco LP (NYSE:SUN) Sees Large Decline in Short Interest

Sunoco LP (NYSE:SUN) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 805,300 shares, a decrease of 27.5% from the December 15th total of 1,110,000 shares. Based on an average daily volume of 264,300 shares, the days-to-cover ratio is presently 3.0 days. Currently, 1.5% of the shares of the company are sold short.

NYSE:SUN opened at $31.53 on Tuesday. The stock has a fifty day simple moving average of $30.83 and a 200 day simple moving average of $31.65. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 12.22 and a beta of 0.78. The company has a quick ratio of 0.69, a current ratio of 1.21 and a debt-to-equity ratio of 4.70. Sunoco has a 1-year low of $28.02 and a 1-year high of $34.09.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.24). The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.41 billion. Sunoco had a return on equity of 31.52% and a net margin of 0.96%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 earnings per share. Equities analysts predict that Sunoco will post 2.24 earnings per share for the current year.

A number of equities analysts recently weighed in on the company. Mizuho assumed coverage on Sunoco in a research report on Monday, October 28th. They issued a “buy” rating and a $36.00 price target for the company. ValuEngine upgraded Sunoco from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 11th. Raymond James increased their price target on Sunoco from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upgraded Sunoco from an “underperform” rating to a “market perform” rating in a research report on Friday, October 18th. Finally, Barclays set a $33.00 price target on Sunoco and gave the company a “hold” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $32.71.

In other news, insider Machell Simon bought 6,305 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was acquired at an average price of $13.45 per share, with a total value of $84,802.25. Also, insider Arnold Dodderer sold 5,711 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $30.16, for a total value of $172,243.76. Following the transaction, the insider now directly owns 46,787 shares of the company’s stock, valued at approximately $1,411,095.92. The disclosure for this sale can be found here.

A number of institutional investors have recently made changes to their positions in SUN. Invesco Ltd. purchased a new stake in Sunoco in the 2nd quarter worth about $488,430,000. Hussman Strategic Advisors Inc. bought a new position in Sunoco in the 3rd quarter valued at $1,572,000. California Public Employees Retirement System raised its position in Sunoco by 51.6% in the 3rd quarter. California Public Employees Retirement System now owns 104,511 shares of the oil and gas company’s stock valued at $3,287,000 after purchasing an additional 35,566 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Sunoco in the 3rd quarter valued at $1,041,000. Finally, HighTower Advisors LLC bought a new position in Sunoco in the 2nd quarter valued at $481,000. 28.28% of the stock is owned by hedge funds and other institutional investors.

About Sunoco

Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.

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