Sunoco (NYSE:SUN) Rating Increased to Market Perform at BMO Capital Markets

Sunoco (NYSE:SUN) was upgraded by stock analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a research note issued on Friday, The Fly reports.

SUN has been the topic of several other reports. Stifel Nicolaus set a $34.00 price objective on Sunoco and gave the stock a “hold” rating in a research note on Monday, August 12th. Barclays set a $33.00 price objective on Sunoco and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Raymond James reduced their price objective on Sunoco from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, ValuEngine upgraded Sunoco from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $31.00.

Sunoco stock opened at $32.50 on Friday. The stock has a market cap of $3.19 billion, a P/E ratio of 12.60 and a beta of 0.77. The company has a current ratio of 1.24, a quick ratio of 0.78 and a debt-to-equity ratio of 4.51. The stock has a 50 day moving average of $31.45 and a 200-day moving average of $31.31. Sunoco has a 52 week low of $23.80 and a 52 week high of $34.09.

Sunoco (NYSE:SUN) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.31). The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Sunoco had a net margin of 1.21% and a return on equity of 35.57%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. As a group, equities analysts predict that Sunoco will post 2.16 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. lifted its stake in Sunoco by 4.6% during the second quarter. Advisor Group Inc. now owns 9,493 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 414 shares during the last quarter. Sigma Planning Corp lifted its stake in Sunoco by 3.2% in the second quarter. Sigma Planning Corp now owns 16,593 shares of the oil and gas company’s stock valued at $519,000 after buying an additional 508 shares during the last quarter. Private Advisor Group LLC lifted its stake in Sunoco by 3.5% in the second quarter. Private Advisor Group LLC now owns 19,813 shares of the oil and gas company’s stock valued at $620,000 after buying an additional 671 shares during the last quarter. Wellington Shields Capital Management LLC lifted its stake in Sunoco by 2.7% in the second quarter. Wellington Shields Capital Management LLC now owns 30,800 shares of the oil and gas company’s stock valued at $963,000 after buying an additional 800 shares during the last quarter. Finally, Cadence Capital Management LLC lifted its stake in Sunoco by 0.4% in the second quarter. Cadence Capital Management LLC now owns 196,690 shares of the oil and gas company’s stock valued at $6,152,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 28.67% of the company’s stock.

Sunoco Company Profile

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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Analyst Recommendations for Sunoco (NYSE:SUN)

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