Castleark Management LLC Has $1.93 Million Stock Holdings in Sunoco LP (NYSE:SUN)

Castleark Management LLC grew its holdings in Sunoco LP (NYSE:SUN) by 332.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,930 shares of the oil and gas company’s stock after buying an additional 24,540 shares during the quarter. Castleark Management LLC’s holdings in Sunoco were worth $1,925,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in shares of Sunoco by 10.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,904,735 shares of the oil and gas company’s stock valued at $174,081,000 after buying an additional 275,875 shares in the last quarter. Blackstone Inc. increased its position in shares of Sunoco by 58.0% during the 4th quarter. Blackstone Inc. now owns 2,387,608 shares of the oil and gas company’s stock worth $143,089,000 after purchasing an additional 876,452 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Sunoco by 6,075.4% during the 4th quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock worth $34,419,000 after purchasing an additional 565,015 shares in the last quarter. UBS Group AG increased its position in shares of Sunoco by 68.3% during the 4th quarter. UBS Group AG now owns 540,949 shares of the oil and gas company’s stock worth $32,419,000 after purchasing an additional 219,482 shares in the last quarter. Finally, Miller Howard Investments Inc. NY increased its position in shares of Sunoco by 4.2% during the 1st quarter. Miller Howard Investments Inc. NY now owns 437,171 shares of the oil and gas company’s stock worth $26,357,000 after purchasing an additional 17,757 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Insider Activity

In other news, EVP Brian A. Hand acquired 2,000 shares of Sunoco stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $49.59 per share, with a total value of $99,180.00. Following the purchase, the executive vice president now directly owns 153,255 shares of the company’s stock, valued at $7,599,915.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Brian A. Hand acquired 2,000 shares of Sunoco stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $49.59 per share, with a total value of $99,180.00. Following the purchase, the executive vice president now directly owns 153,255 shares of the company’s stock, valued at $7,599,915.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Austin Harkness acquired 1,000 shares of Sunoco stock in a transaction that occurred on Wednesday, May 29th. The shares were purchased at an average cost of $49.74 per share, for a total transaction of $49,740.00. Following the purchase, the executive vice president now directly owns 83,686 shares in the company, valued at $4,162,541.64. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 8,000 shares of company stock valued at $401,420.

Wall Street Analysts Forecast Growth

SUN has been the subject of a number of recent analyst reports. Barclays dropped their target price on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Citigroup upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, June 18th. StockNews.com raised shares of Sunoco from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Mizuho raised shares of Sunoco from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $60.00 to $59.00 in a report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. began coverage on shares of Sunoco in a report on Wednesday, June 5th. They set an “overweight” rating and a $61.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.86.

Sunoco Trading Down 0.4 %

Shares of NYSE SUN traded down $0.20 during mid-day trading on Thursday, hitting $54.72. The company’s stock had a trading volume of 122,834 shares, compared to its average volume of 549,554. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 12.18 and a beta of 1.31. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65 and a quick ratio of 1.07. Sunoco LP has a one year low of $43.85 and a one year high of $64.89. The company’s fifty day simple moving average is $54.54 and its 200-day simple moving average is $57.25.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.13 billion. Sunoco had a net margin of 2.08% and a return on equity of 35.56%. On average, sell-side analysts anticipate that Sunoco LP will post 6.09 earnings per share for the current fiscal year.

Sunoco Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be paid a $0.8756 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Friday, August 9th. Sunoco’s dividend payout ratio (DPR) is presently 77.95%.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.