SunocoCorp (NYSE:SUNC) Hits New 12-Month High - Still a Buy?

Key Points

• SunocoCorp hit a new 52-week high, trading as high as $74.56 before ending around $74.43 on light volume. The move comes as the stock continues to outperform its recent 50-day average of $68.04.
• Wall Street sentiment remains mostly positive, with a consensus Buy rating and an average price target of $77.00. Recent analyst updates included upgrades and higher targets from Barclays, Citigroup, and Raymond James.
• The company posted strong recent earnings, beating estimates with EPS of $2.13 on revenue of $10.69 billion. It also pays a quarterly dividend of $0.9899, equal to a 5.3% annualized yield.

Shares of SunocoCorp LLC (NYSE:SUNC - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $74.56 and last traded at $74.43, with a volume of 691 shares traded. The stock had previously closed at $74.45.

Analyst Upgrades and Downgrades

SUNC has been the topic of several research analyst reports. Zacks Research upgraded SunocoCorp from a "strong sell" rating to a "hold" rating in a research note on Friday, June 19th. Raymond James Financial restated a "strong-buy" rating and issued a $80.00 price objective on shares of SunocoCorp in a research note on Wednesday, May 6th. Barclays lifted their target price on SunocoCorp from $75.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Citigroup upped their target price on SunocoCorp from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $77.00.

SunocoCorp Stock Performance

The stock has a market capitalization of $3.87 billion and a price-to-earnings ratio of 35.28. The company has a 50 day moving average of $68.04. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 1.40.

SunocoCorp (NYSE:SUNC - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.47. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.56 billion. Sell-side analysts anticipate that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.9899 dividend. The ex-dividend date was Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.3%. SunocoCorp's dividend payout ratio is 185.92%.

Institutional Investors Weigh In On SunocoCorp

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of SunocoCorp in the 4th quarter valued at about $43,000. Deutsche Bank AG purchased a new position in SunocoCorp during the fourth quarter worth approximately $92,000. SG Americas Securities LLC acquired a new stake in SunocoCorp in the first quarter valued at approximately $112,000. Danske Bank A S acquired a new stake in SunocoCorp in the fourth quarter valued at approximately $133,000. Finally, State of Wyoming purchased a new stake in shares of SunocoCorp in the first quarter valued at approximately $164,000.

About SunocoCorp

Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.

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