Walleye Capital LLC Purchases New Position in SunocoCorp LLC $SUNC

Key Points

• Walleye Capital LLC opened a new position in SunocoCorp during the first quarter, buying 91,019 shares worth about $5.6 million and ending the quarter with 0.18% ownership.
• SunocoCorp shares were up 2.4% and recently traded near their 52-week high of $76.29. The company has a market cap of $3.93 billion and a P/E ratio of 35.79.
• The company reported better-than-expected quarterly results, with EPS of $2.13 versus estimates of $1.66 and revenue of $10.69 billion versus expectations of $9.56 billion. Analysts currently have a Buy consensus and an average price target of $77.

Walleye Capital LLC purchased a new stake in SunocoCorp LLC (NYSE:SUNC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 91,019 shares of the company's stock, valued at approximately $5,611,000. Walleye Capital LLC owned 0.18% of SunocoCorp at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SUNC. Goldman Sachs Group Inc. acquired a new stake in shares of SunocoCorp during the 4th quarter worth approximately $126,936,000. Millennium Management LLC acquired a new position in shares of SunocoCorp in the 4th quarter valued at $76,886,000. Norges Bank purchased a new stake in SunocoCorp during the fourth quarter worth $74,696,000. Morgan Stanley purchased a new stake in SunocoCorp during the fourth quarter worth $73,776,000. Finally, Engine Capital Management LP acquired a new stake in SunocoCorp during the fourth quarter valued at $67,976,000.

SunocoCorp Trading Up 2.4%

Shares of SunocoCorp stock opened at $76.23 on Thursday. The stock has a market cap of $3.93 billion and a price-to-earnings ratio of 35.79. SunocoCorp LLC has a twelve month low of $47.00 and a twelve month high of $76.29. The company has a 50-day moving average of $68.43. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.40 and a quick ratio of 0.92.

SunocoCorp (NYSE:SUNC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.66 by $0.47. The firm had revenue of $10.69 billion for the quarter, compared to analysts' expectations of $9.56 billion. On average, sell-side analysts predict that SunocoCorp LLC will post 6.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays lifted their price objective on shares of SunocoCorp from $75.00 to $78.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Citigroup raised their target price on SunocoCorp from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Zacks Research raised SunocoCorp from a "strong sell" rating to a "hold" rating in a report on Friday, June 19th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $80.00 price target on shares of SunocoCorp in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SunocoCorp has an average rating of "Buy" and a consensus price target of $77.00.

SunocoCorp Profile

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

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