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

Sunoco (NYSE:SUN) had its price target hoisted by Wells Fargo & Company from $65.00 to $67.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas company’s stock.

Several other analysts also recently issued reports on the company. Weiss Ratings downgraded Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research downgraded Sunoco from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Raymond James Financial raised shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Monday, January 5th. Stifel Nicolaus raised their price target on shares of Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Barclays set a $63.00 price objective on shares of Sunoco in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.17.

Sunoco Price Performance

Shares of SUN opened at $63.72 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06. The company’s fifty day simple moving average is $57.31 and its 200 day simple moving average is $53.96. Sunoco has a 1-year low of $47.98 and a 1-year high of $63.87. The company has a market cap of $13.05 billion, a price-to-earnings ratio of 28.07 and a beta of 0.51.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share (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 for the quarter, compared to analyst estimates of $9.65 billion. During the same quarter last year, the business earned $0.75 earnings per share. The company’s revenue was up 63.2% on a year-over-year basis. On average, research analysts forecast that Sunoco will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were issued a $0.9317 dividend. The ex-dividend date was Friday, February 6th. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. This represents a $3.73 dividend on an annualized basis and a yield of 5.8%. Sunoco’s dividend payout ratio is 164.32%.

Hedge Funds Weigh In On Sunoco

A number of institutional investors and hedge funds have recently made changes to their positions in SUN. MidFirst Bank acquired a new stake in shares of Sunoco in the 4th quarter valued at about $1,599,000. Corient Private Wealth LLC grew its stake in Sunoco by 366.8% in the fourth quarter. Corient Private Wealth LLC now owns 70,040 shares of the oil and gas company’s stock valued at $3,671,000 after acquiring an additional 55,035 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Sunoco during the fourth quarter valued at approximately $834,000. NewEdge Advisors LLC increased its holdings in shares of Sunoco by 7.7% during the fourth quarter. NewEdge Advisors LLC now owns 7,628 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 548 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in shares of Sunoco during the fourth quarter worth approximately $5,260,000. Institutional investors own 24.29% of the company’s stock.

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.