Sunoco (NYSE:SUN) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho raised its price target to $75 (from $66) and maintained an "outperform" rating, implying about a 12.66% upside from the prior close.
• Sunoco missed quarterly expectations, reporting EPS of $0.09 versus $1.64 expected and revenue of $8.60 billion versus $9.65 billion expected, though revenue rose 63.2% year-over-year.
• Analyst consensus is a "Moderate Buy" with an average price target of $69.33 and a mix of 1 Strong Buy, 5 Buy and 2 Hold ratings.

Sunoco (NYSE:SUN - Get Free Report) had its price target raised by analysts at Mizuho from $66.00 to $75.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the oil and gas company's stock. Mizuho's target price points to a potential upside of 12.66% from the company's previous close.

SUN has been the topic of several other research reports. Wall Street Zen cut shares of Sunoco from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Zacks Research raised Sunoco from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 1st. Wells Fargo & Company boosted their price target on shares of Sunoco from $67.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, March 13th. Raymond James Financial upgraded shares of Sunoco from an "outperform" rating to a "strong-buy" rating and set a $70.00 target price on the stock in a research report on Monday, January 5th. Finally, Barclays set a $63.00 price objective on shares of Sunoco in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $69.33.

Sunoco Stock Performance

Shares of NYSE SUN opened at $66.57 on Tuesday. 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 $67.82. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 29.30 and a beta of 0.48. The firm has a 50 day moving average of $64.41 and a 200 day moving average of $58.06.

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

Hedge Funds Weigh In On Sunoco

A number of large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Sunoco by 6.4% in the first quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company's stock worth $9,239,000 after purchasing an additional 9,592 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Sunoco by 10.9% in the 2nd quarter. Brown Advisory Inc. now owns 12,174 shares of the oil and gas company's stock valued at $652,000 after purchasing an additional 1,201 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Sunoco by 226.2% during the second quarter. NewEdge Advisors LLC now owns 7,088 shares of the oil and gas company's stock valued at $380,000 after purchasing an additional 4,915 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Sunoco by 5.5% in the 2nd quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company's stock valued at $19,611,000 after buying an additional 18,990 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Sunoco by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 37,488 shares of the oil and gas company's stock worth $1,996,000 after buying an additional 2,810 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors.

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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