Sunoco (NYSE:SUN) Price Target Raised to $67.00

Sunoco (NYSE:SUN - Get Free Report) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $66.00 to $67.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 25.34% from the company's previous close.

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

Sunoco Stock Up 1.7%

SUN traded up $0.89 during trading on Tuesday, hitting $53.46. 373,240 shares of the company's stock were exchanged, compared to its average volume of 357,089. The company has a quick ratio of 0.86, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. The business's 50 day moving average is $53.81 and its two-hundred day moving average is $55.52. Sunoco has a fifty-two week low of $48.00 and a fifty-two week high of $59.88. The stock has a market cap of $8.16 billion, a P/E ratio of 9.63 and a beta of 0.61.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.48). Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period last year, the company posted $2.26 earnings per share. Sunoco's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities analysts expect that Sunoco will post 10.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Sunoco during the fourth quarter valued at about $31,000. Transce3nd LLC purchased a new position in Sunoco during the fourth quarter worth $90,000. Huntington National Bank raised its position in Sunoco by 440.3% in the 4th quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company's stock worth $92,000 after purchasing an additional 1,453 shares during the period. State of Wyoming purchased a new position in Sunoco during the 4th quarter valued at $102,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Sunoco by 110.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company's stock worth $118,000 after buying an additional 1,069 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

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.