Sunoco (NYSE:SUN) Price Target Raised to $77.00

Key Points

• Wells Fargo raised its price target on Sunoco from $71 to $77 and maintained an "overweight" rating, implying about a 16.45% upside from the current price.
• Sunoco reported a strong quarter — EPS $2.85 vs. $1.71 estimate and revenue of $10.69B (up 106.4% YoY) — and analysts maintain an average rating of "Moderate Buy" with an average target of $72.57.

Sunoco (NYSE:SUN - Get Free Report) had its price objective hoisted by Wells Fargo & Company from $71.00 to $77.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 16.45% from the stock's current price.

A number of other equities research analysts also recently commented on SUN. Weiss Ratings downgraded shares of Sunoco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 22nd. Mizuho lifted their target price on shares of Sunoco from $66.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded Sunoco from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Zacks Research upgraded Sunoco from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 1st. Finally, Stifel Nicolaus increased their price objective on shares of Sunoco from $61.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $72.57.

Sunoco Price Performance

Shares of NYSE:SUN traded down $0.79 during trading on Thursday, hitting $66.13. 205,841 shares of the stock were exchanged, compared to its average volume of 476,475. The company has a fifty day moving average price of $65.07 and a two-hundred day moving average price of $58.66. The company has a market cap of $13.54 billion, a PE ratio of 16.91 and a beta of 0.46. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06. Sunoco has a 12-month low of $47.98 and a 12-month high of $70.00.

Sunoco (NYSE:SUN - Get Free Report) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $1.14. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $10.19 billion. Sunoco had a return on equity of 19.29% and a net margin of 3.07%.Sunoco's revenue was up 106.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. On average, analysts forecast that Sunoco will post 7.83 EPS for the current year.

Institutional Trading of Sunoco

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Diversified Trust Co increased its holdings in shares of Sunoco by 3.0% during the 1st quarter. Diversified Trust Co now owns 5,827 shares of the oil and gas company's stock worth $379,000 after buying an additional 168 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Sunoco by 2.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company's stock worth $509,000 after buying an additional 205 shares during the last quarter. Quadrant Private Wealth Management LLC increased its holdings in shares of Sunoco by 5.2% during the 3rd quarter. Quadrant Private Wealth Management LLC now owns 4,249 shares of the oil and gas company's stock worth $212,000 after buying an additional 209 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of Sunoco by 2.1% during the 2nd quarter. IHT Wealth Management LLC now owns 10,302 shares of the oil and gas company's stock worth $552,000 after buying an additional 212 shares during the last quarter. Finally, Uhlmann Price Securities LLC increased its holdings in shares of Sunoco by 2.8% during the 3rd quarter. Uhlmann Price Securities LLC now owns 9,036 shares of the oil and gas company's stock worth $452,000 after buying an additional 250 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

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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