SunocoCorp (NYSE:SUNC) Shares Gap Down – What’s Next?

SunocoCorp LLC (NYSE:SUNC)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $81.40, but opened at $76.52. SunocoCorp shares last traded at $77.1970, with a volume of 5,648 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on SUNC shares. Zacks Research downgraded shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Weiss Ratings initiated coverage on SunocoCorp in a report on Tuesday, August 11th. They set a “hold (c)” rating for the company. Barclays lifted their price target on SunocoCorp from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Citigroup upped their price target on shares of SunocoCorp from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Mizuho started coverage on shares of SunocoCorp in a research report on Friday, July 24th. They set an “outperform” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SunocoCorp presently has an average rating of “Moderate Buy” and an average target price of $81.00.

SunocoCorp Stock Down 0.7%

The company’s 50-day simple moving average is $76.77 and its two-hundred day simple moving average is $69.01. The firm has a market capitalization of $3.97 billion and a P/E ratio of 26.65. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 0.83.

SunocoCorp (NYSE:SUNC) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter. The firm had revenue of $14.26 billion during the quarter.

SunocoCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were paid a $1.0023 dividend. This represents a $4.01 annualized dividend and a yield of 5.2%. The ex-dividend date was Friday, August 7th. This is an increase from SunocoCorp’s previous quarterly dividend of $0.99. SunocoCorp’s dividend payout ratio is presently 138.75%.

Institutional Investors Weigh In On SunocoCorp

Several large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in SunocoCorp during the 4th quarter worth $43,000. SG Americas Securities LLC purchased a new position in SunocoCorp during the first quarter valued at approximately $112,000. State of Wyoming purchased a new stake in SunocoCorp during the first quarter worth $164,000. Lombard Odier Asset Management USA Corp purchased a new stake in shares of SunocoCorp during the 1st quarter worth about $254,000. Finally, Sei Investments Co. purchased a new position in SunocoCorp during the first quarter worth approximately $274,000.

SunocoCorp Company Profile

Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.