SunocoCorp LLC $SUNC is QV Investors Inc.'s Largest Position

Key Points

• QV Investors reduced its SunocoCorp position by 10.2% in the second quarter but still held 1.05 million shares worth about $71.2 million. SunocoCorp remains the fund’s largest holding, representing 5.5% of its portfolio.
• SunocoCorp reported quarterly EPS of $0.76 on $14.26 billion in revenue and raised its quarterly dividend to $1.0023 per share, equivalent to a 5.2% yield. However, its 138.4% payout ratio exceeds earnings.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an $81 target price versus the stock’s $76.39 opening price. Shares are near their 12-month high of $78.85.

QV Investors Inc. decreased its position in SunocoCorp LLC (NYSE:SUNC - Free Report) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,052,334 shares of the company's stock after selling 119,080 shares during the quarter. SunocoCorp accounts for 5.5% of QV Investors Inc.'s portfolio, making the stock its biggest holding. QV Investors Inc. owned approximately 2.04% of SunocoCorp worth $71,211,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of SunocoCorp in the fourth quarter valued at $43,000. Walnut Private Equity Partners LLC lifted its position in SunocoCorp by 11.8% during the second quarter. Walnut Private Equity Partners LLC now owns 9,500 shares of the company's stock valued at $643,000 after purchasing an additional 1,000 shares during the last quarter. Waverly Advisors LLC grew its stake in shares of SunocoCorp by 1.4% in the 1st quarter. Waverly Advisors LLC now owns 95,419 shares of the company's stock worth $5,883,000 after buying an additional 1,324 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of SunocoCorp in the 1st quarter worth $112,000. Finally, Deutsche Bank AG bought a new stake in shares of SunocoCorp in the 4th quarter worth about $92,000.

SunocoCorp Trading Up 0.1%

SUNC stock opened at $76.39 on Monday. SunocoCorp LLC has a 12 month low of $47.00 and a 12 month high of $78.85. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.83 and a current ratio of 1.29. The business's 50-day moving average price is $72.79. The stock has a market cap of $3.94 billion and a PE ratio of 26.43.

SunocoCorp (NYSE:SUNC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 EPS for the quarter. The firm had revenue of $14.26 billion for the quarter.

SunocoCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a dividend of $1.0023 per share. This is a positive change from SunocoCorp's previous quarterly dividend of $0.99. This represents a $4.01 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, August 7th. SunocoCorp's payout ratio is currently 138.41%.

Analysts Set New Price Targets

SUNC has been the subject of a number of analyst reports. Weiss Ratings assumed coverage on shares of SunocoCorp in a report on Tuesday, August 11th. They issued a "hold (c)" rating for the company. Barclays upped their price objective on SunocoCorp from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Mizuho initiated coverage on SunocoCorp in a research note on Friday, July 24th. They issued an "outperform" rating and a $83.00 price objective for the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $80.00 target price on shares of SunocoCorp in a report on Wednesday, May 6th. Finally, Zacks Research downgraded SunocoCorp from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.00.

About SunocoCorp

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

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