JPMorgan Chase & Co. Increases Sunoco (NYSE:SUN) Price Target to $73.00

Key Points

• JPMorgan Chase & Co. raised its price target on Sunoco from $66 to $73 and kept an "overweight" rating, implying roughly a 9.94% upside from the prior close.
• Sunoco posted a significant quarterly earnings miss—EPS of $0.09 versus $1.64 expected—and revenue of $8.60 billion versus $9.65 billion, although revenue rose 63.2% year‑over‑year.
• The stock traded up about 2.2% to $66.40 that day, and analysts' consensus is a "Moderate Buy" with an average target price of $67.83.

Sunoco (NYSE:SUN - Get Free Report) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $66.00 to $73.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 9.94% from the company's previous close.

SUN has been the topic of a number of other reports. Barclays set a $63.00 target price on Sunoco in a report on Friday, February 20th. Raymond James Financial raised Sunoco from an "outperform" rating to a "strong-buy" rating and set a $70.00 price objective for the company in a research report on Monday, January 5th. Stifel Nicolaus raised their price objective on shares of Sunoco from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Zacks Research lowered shares of Sunoco from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 3rd. Finally, Wall Street Zen cut shares of Sunoco from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.83.

Sunoco Trading Up 2.2%

SUN stock traded up $1.45 during mid-day trading on Tuesday, reaching $66.40. 97,397 shares of the stock traded hands, compared to its average volume of 513,701. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06. Sunoco has a 52-week low of $47.98 and a 52-week high of $67.82. The company has a market cap of $13.60 billion, a P/E ratio of 29.22 and a beta of 0.49. The stock's fifty day moving average is $60.83 and its 200-day moving average is $55.39.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $1.64 by ($1.55). The firm had revenue of $8.60 billion during the quarter, compared to analyst estimates of $9.65 billion. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The company's revenue for the quarter was up 63.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. As a group, sell-side analysts expect that Sunoco will post 10.65 earnings per share for the current year.

Institutional Investors Weigh In On Sunoco

A number of institutional investors have recently made changes to their positions in the stock. Compass Wealth Management LLC bought a new position in Sunoco during the 3rd quarter worth about $644,000. Lee Financial Co grew its holdings in shares of Sunoco by 573.1% during the third quarter. Lee Financial Co now owns 25,705 shares of the oil and gas company's stock worth $1,286,000 after buying an additional 21,886 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Sunoco by 58.2% during the third quarter. Chickasaw Capital Management LLC now owns 228,429 shares of the oil and gas company's stock worth $11,424,000 after buying an additional 84,000 shares in the last quarter. Truist Financial Corp bought a new stake in Sunoco in the 3rd quarter valued at approximately $1,161,000. Finally, Neuberger Berman Group LLC lifted its stake in Sunoco by 4.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 670,269 shares of the oil and gas company's stock valued at $35,920,000 after acquiring an additional 25,757 shares in the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Company Profile

Sunoco LP NYSE: SUN is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco's product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.

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