Sunoco (NYSE:SUN) Now Covered by JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Sunoco (NYSE:SUN) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set an “overweight” rating and a $61.00 price target on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.91% from the company’s previous close.

SUN has been the subject of a number of other research reports. Citigroup cut Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Tuesday, February 27th. StockNews.com upgraded Sunoco from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Mizuho upgraded Sunoco from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $60.00 to $59.00 in a research report on Tuesday. Stifel Nicolaus cut Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company upped their price target on Sunoco from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.43.

Sunoco Stock Up 4.1 %

SUN stock opened at $54.51 on Wednesday. Sunoco has a fifty-two week low of $43.00 and a fifty-two week high of $64.89. The business’s 50-day moving average is $54.63 and its two-hundred day moving average is $57.45. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.07 and a current ratio of 1.65. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 11.92 and a beta of 1.29.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. The company had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.13 billion. As a group, analysts forecast that Sunoco will post 5.15 earnings per share for the current year.

Insider Buying and Selling

In other Sunoco news, EVP Austin Harkness bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $49.74 per share, for a total transaction of $49,740.00. Following the completion of the transaction, the executive vice president now owns 83,686 shares of the company’s stock, valued at approximately $4,162,541.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Brian A. Hand purchased 2,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $49.59 per share, for a total transaction of $99,180.00. Following the acquisition, the executive vice president now directly owns 153,255 shares of the company’s stock, valued at approximately $7,599,915.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Austin Harkness purchased 1,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were purchased at an average price of $49.74 per share, with a total value of $49,740.00. Following the acquisition, the executive vice president now directly owns 83,686 shares in the company, valued at $4,162,541.64. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 9,500 shares of company stock worth $479,570.

Hedge Funds Weigh In On Sunoco

Several institutional investors have recently added to or reduced their stakes in SUN. Principal Securities Inc. purchased a new position in Sunoco during the 4th quarter valued at approximately $27,000. ICA Group Wealth Management LLC bought a new stake in shares of Sunoco in the 4th quarter valued at approximately $30,000. CNB Bank bought a new stake in shares of Sunoco in the 1st quarter valued at approximately $30,000. Allworth Financial LP lifted its stake in shares of Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 500 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in shares of Sunoco in the 1st quarter valued at approximately $55,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Company Profile

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.