Sunoco (NYSE:SUN) Earns Overweight Rating from Analysts at Barclays

Barclays assumed coverage on shares of Sunoco (NYSE:SUNFree Report) in a research report sent to investors on Monday, Marketbeat reports. The brokerage issued an overweight rating and a $61.00 price target on the oil and gas company’s stock.

Several other research firms have also recently issued reports on SUN. Stifel Nicolaus raised Sunoco from a hold rating to a buy rating and set a $62.00 price objective on the stock in a research report on Friday, June 7th. StockNews.com upgraded Sunoco from a hold rating to a buy rating in a research report on Thursday, May 9th. Wells Fargo & Company increased their price target on shares of Sunoco from $60.00 to $61.00 and gave the company an equal weight rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. started coverage on shares of Sunoco in a report on Wednesday, June 5th. They issued an overweight rating and a $61.00 price target for the company. Finally, Citigroup downgraded shares of Sunoco from a buy rating to a neutral rating and set a $65.00 price objective for the company. in a research note on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $62.00.

Read Our Latest Stock Report on SUN

Sunoco Stock Down 1.7 %

Shares of NYSE:SUN opened at $51.68 on Monday. Sunoco has a 1 year low of $43.00 and a 1 year high of $64.89. The company has a market cap of $5.21 billion, a PE ratio of 11.59 and a beta of 1.29. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65 and a quick ratio of 1.07. The stock’s 50-day moving average is $53.95 and its 200 day moving average is $57.46.

Sunoco (NYSE:SUNGet Free Report) last posted its earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. The firm had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.13 billion. Sell-side analysts anticipate that Sunoco will post 6.09 EPS for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 6.78%. The ex-dividend date was Friday, May 10th. This is an increase from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s payout ratio is currently 77.95%.

Insider Transactions at Sunoco

In other Sunoco news, CEO Joseph Kim bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $50.50 per share, for a total transaction of $252,500.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $505,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Joseph Kim acquired 5,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $50.50 per share, with a total value of $252,500.00. Following the completion of the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $505,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David K. Skidmore acquired 1,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was purchased at an average cost of $52.10 per share, with a total value of $78,150.00. Following the acquisition, the director now directly owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 9,500 shares of company stock worth $479,570.

Institutional Trading of Sunoco

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in Sunoco during the fourth quarter worth about $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Sunoco in the 4th quarter worth approximately $30,000. CNB Bank acquired a new position in shares of Sunoco in the 1st quarter worth approximately $30,000. Allworth Financial LP lifted its holdings in shares of Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 500 shares during the last quarter. Finally, Register Financial Advisors LLC purchased a new stake in Sunoco during the 1st quarter worth approximately $55,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Sunoco (NYSE:SUN)

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