Mizuho Cuts Sunoco (NYSE:SUN) Price Target to $67.00

Sunoco (NYSE:SUN - Free Report) had its price objective trimmed by Mizuho from $68.00 to $67.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company's stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Barclays reduced their price target on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Sunoco currently has an average rating of "Moderate Buy" and an average target price of $64.50.

Sunoco Stock Down 0.6%

NYSE:SUN traded down $0.30 during midday trading on Monday, reaching $51.66. The company had a trading volume of 222,057 shares, compared to its average volume of 438,410. Sunoco has a 12-month low of $48.00 and a 12-month high of $59.88. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 9.31 and a beta of 0.61. The company has a current ratio of 1.55, a quick ratio of 0.86 and a debt-to-equity ratio of 1.85. The stock's fifty day simple moving average is $54.17 and its 200-day simple moving average is $55.48.

Sunoco (NYSE:SUN - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.48). Sunoco had a return on equity of 20.34% and a net margin of 3.80%. The firm had revenue of $5.18 billion for the quarter, compared to analysts' expectations of $5.58 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The firm's quarterly revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Sunoco will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.8976 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.59 dividend on an annualized basis and a yield of 6.95%. This is a boost from Sunoco's previous quarterly dividend of $0.89. Sunoco's dividend payout ratio is currently 64.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SUN. Wealth Enhancement Advisory Services LLC lifted its position in Sunoco by 5.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,262 shares of the oil and gas company's stock worth $306,000 after acquiring an additional 279 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Sunoco by 7.3% during the first quarter. Oppenheimer & Co. Inc. now owns 7,365 shares of the oil and gas company's stock worth $428,000 after acquiring an additional 500 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Sunoco by 4.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,232 shares of the oil and gas company's stock worth $1,465,000 after purchasing an additional 1,144 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Sunoco in the 1st quarter valued at approximately $239,000. Finally, DAVENPORT & Co LLC purchased a new position in shares of Sunoco during the 1st quarter worth approximately $218,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Company Profile

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.