Royal Bank Of Canada Boosts Sunoco (NYSE:SUN) Price Target to $76.00

Key Points

• Royal Bank of Canada raised its price target on Sunoco from $64 to $76 and kept an "outperform" rating, implying about an 11.11% upside from the current share price.
• Other brokers have also boosted targets (JPMorgan to $73, Wells Fargo to $71, Stifel to $64), and MarketBeat shows a consensus "Moderate Buy" with an average target of $70.29.
• Sunoco missed quarterly expectations, reporting $0.09 EPS versus $1.64 expected and $8.60 billion in revenue (below estimates) despite a 63.2% YoY revenue increase; analysts forecast about 7.83 EPS for the year.

Sunoco (NYSE:SUN - Get Free Report) had its target price lifted by equities researchers at Royal Bank Of Canada from $64.00 to $76.00 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the oil and gas company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 11.11% from the company's current price.

Several other brokerages have also commented on SUN. JPMorgan Chase & Co. boosted their price target on Sunoco from $66.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 24th. Wall Street Zen lowered shares of Sunoco from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Stifel Nicolaus raised their price target on shares of Sunoco from $61.00 to $64.00 and gave the company a "buy" rating in a report on Wednesday, February 18th. Wells Fargo & Company raised their price target on shares of Sunoco from $67.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, March 13th. Finally, Weiss Ratings downgraded shares of Sunoco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $70.29.

Sunoco Price Performance

NYSE SUN traded down $1.25 during trading hours on Friday, reaching $68.40. The company's stock had a trading volume of 274,285 shares, compared to its average volume of 468,241. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 30.13 and a beta of 0.48. Sunoco has a 1-year low of $47.98 and a 1-year high of $70.00. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.38 and a quick ratio of 0.78. The company's 50-day moving average is $64.83 and its two-hundred day moving average is $58.33.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.64 by ($1.55). Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $9.65 billion. During the same period in the previous year, the company posted $0.75 EPS. The business's revenue for the quarter was up 63.2% compared to the same quarter last year. On average, equities analysts predict that Sunoco will post 7.83 EPS for the current year.

Institutional Investors Weigh In On Sunoco

A number of institutional investors and hedge funds have recently modified their holdings of SUN. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Sunoco during the 3rd quarter valued at $31,000. Ancora Advisors LLC acquired a new stake in shares of Sunoco during the 3rd quarter valued at $40,000. Glen Eagle Advisors LLC lifted its holdings in shares of Sunoco by 496.5% in the fourth quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company's stock valued at $45,000 after purchasing an additional 710 shares in the last quarter. Cresta Advisors Ltd. purchased a new stake in shares of Sunoco in the fourth quarter valued at $64,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Sunoco by 110.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company's stock valued at $82,000 after purchasing an additional 823 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company's stock.

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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