JPMorgan Chase & Co. Issues Positive Forecast for Sunoco (NYSE:SUN) Stock Price

Sunoco (NYSE:SUN - Get Free Report) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $66.00 to $67.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 25.22% from the stock's previous close.

A number of other equities analysts also recently issued reports on the company. Mizuho dropped their price target on Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. Barclays dropped their price target on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.75.

Sunoco Trading Up 0.0%

SUN stock traded up $0.03 during midday trading on Tuesday, reaching $53.51. The company's stock had a trading volume of 202,159 shares, compared to its average volume of 438,456. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.86 and a current ratio of 1.55. The stock has a fifty day simple moving average of $53.73 and a two-hundred day simple moving average of $55.52. Sunoco has a 1 year low of $48.00 and a 1 year high of $59.88. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 9.64 and a beta of 0.61.

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 business had revenue of $5.18 billion during the quarter, compared to analysts' expectations of $5.58 billion. During the same quarter in the previous year, the business earned $2.26 EPS. The business's revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts predict that Sunoco will post 10.65 EPS for the current year.

Institutional Investors Weigh In On Sunoco

Institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC lifted its holdings in shares of Sunoco by 2.2% during the first quarter. EP Wealth Advisors LLC now owns 8,590 shares of the oil and gas company's stock worth $499,000 after purchasing an additional 186 shares during the period. Ameritas Advisory Services LLC lifted its holdings in shares of Sunoco by 3.9% during the second quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the oil and gas company's stock worth $278,000 after purchasing an additional 193 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Sunoco by 1.9% during the first quarter. International Assets Investment Management LLC now owns 11,252 shares of the oil and gas company's stock worth $653,000 after purchasing an additional 208 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Sunoco by 5.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,262 shares of the oil and gas company's stock worth $306,000 after purchasing an additional 279 shares during the period. Finally, Sigma Planning Corp lifted its holdings in shares of Sunoco by 1.7% during the first quarter. Sigma Planning Corp now owns 18,301 shares of the oil and gas company's stock worth $1,063,000 after purchasing an additional 309 shares during the period. Institutional investors and hedge funds own 24.29% of the company's stock.

About Sunoco

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.