Research Analysts’ Recent Ratings Changes for Sunoco (SUN)

Several brokerages have updated their recommendations and price targets on shares of Sunoco (NYSE: SUN) in the last few weeks:

• 6/18/2024 – Sunoco was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $65.00 price target on the stock.
• 6/10/2024 – Sunoco is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $61.00 price target on the stock.
• 6/7/2024 – Sunoco was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock.
• 6/5/2024 – Sunoco is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $61.00 price target on the stock.
• 6/4/2024 – Sunoco was upgraded by analysts at Mizuho from a “neutral” rating to a “buy” rating. They now have a $59.00 price target on the stock, down previously from $60.00.
• 5/9/2024 – Sunoco was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Sunoco Stock Down 0.3 %

SUN opened at $54.48 on Thursday. Sunoco LP has a fifty-two week low of $43.00 and a fifty-two week high of $64.89. The business has a 50-day moving average of $53.58 and a 200-day moving average of $57.43. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65 and a quick ratio of 1.07. The company has a market capitalization of $5.49 billion, a PE ratio of 12.13 and a beta of 1.29.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.13 billion. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. Equities research analysts forecast that Sunoco LP will post 6.09 EPS for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.876 per share. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.43%. Sunoco’s dividend payout ratio is currently 77.95%.

Insider Activity

In other Sunoco news, CEO Joseph Kim bought 5,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $50.50 per share, with a total value of $252,500.00. Following the acquisition, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $505,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Sunoco news, EVP Austin Harkness bought 1,000 shares of the 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 of the company’s stock, valued at approximately $4,162,541.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joseph Kim acquired 5,000 shares of Sunoco stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $50.50 per share, with a total value of $252,500.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $505,000. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 9,500 shares of company stock valued at $479,570.

Institutional Trading of Sunoco

Hedge funds have recently modified their holdings of the company. Blackstone Inc. lifted its position in shares of Sunoco by 58.0% during the 4th quarter. Blackstone Inc. now owns 2,387,608 shares of the oil and gas company’s stock worth $143,089,000 after buying an additional 876,452 shares during the period. International Assets Investment Management LLC raised its position in Sunoco by 6,075.4% in the 4th quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock valued at $34,419,000 after purchasing an additional 565,015 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Sunoco by 10.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,904,735 shares of the oil and gas company’s stock valued at $174,081,000 after buying an additional 275,875 shares during the period. Jennison Associates LLC acquired a new stake in shares of Sunoco in the 4th quarter valued at $15,396,000. Finally, TCG Advisory Services LLC acquired a new stake in shares of Sunoco in the 4th quarter valued at $14,380,000. Institutional investors own 24.29% of the company’s stock.

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.