JPMorgan Chase & Co. Raises Sunoco (NYSE:SUN) Price Target to $67.00

Sunoco (NYSE:SUN - Get Free Report) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $66.00 to $67.00 in a research report issued to clients and 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 target would indicate a potential upside of 26.98% from the company's previous close.

Several other research firms have also commented on SUN. Barclays decreased their price objective on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Mizuho reduced their target price on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, July 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.75.

Sunoco Trading Up 0.1%

Shares of SUN traded up $0.04 during trading on Tuesday, reaching $52.76. 371,765 shares of the company traded hands, compared to its average volume of 440,419. The company has a quick ratio of 0.86, a current ratio of 1.55 and a debt-to-equity ratio of 1.85. Sunoco has a twelve month low of $48.00 and a twelve month high of $59.88. The stock has a market cap of $8.06 billion, a PE ratio of 9.51 and a beta of 0.61. The stock has a 50-day simple moving average of $53.88 and a 200-day simple moving average of $55.53.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SUN. Commonwealth Equity Services LLC raised its holdings in Sunoco by 12.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 26,808 shares of the oil and gas company's stock valued at $1,379,000 after buying an additional 2,950 shares during the period. Virtu Financial LLC purchased a new position in Sunoco in the fourth quarter valued at approximately $239,000. Duff & Phelps Investment Management Co. raised its holdings in Sunoco by 16.7% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 111,630 shares of the oil and gas company's stock valued at $5,742,000 after buying an additional 15,968 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Sunoco by 32,166.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company's stock valued at $12,137,000 after buying an additional 230,634 shares during the period. Finally, Summit Financial LLC raised its holdings in Sunoco by 7.3% in the fourth quarter. Summit Financial LLC now owns 76,448 shares of the oil and gas company's stock valued at $3,932,000 after buying an additional 5,212 shares during the period. 24.29% of the stock is currently 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.