Sunoco (NYSE:SUN) PT Raised to $63.00 at JPMorgan Chase & Co.

Sunoco (NYSE:SUN) had its price target boosted by analysts at JPMorgan Chase & Co. from $61.00 to $63.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 20.21% from the company’s previous close.

A number of other research analysts have also commented on SUN. Barclays cut their price target on Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Stifel Nicolaus upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Friday, June 7th. Citigroup upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, June 18th. Mizuho upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and reduced their target price for the company from $60.00 to $59.00 in a research note on Tuesday, June 4th. Finally, StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Sunoco presently has a consensus rating of “Moderate Buy” and an average target price of $62.14.

Sunoco Stock Performance

NYSE:SUN opened at $52.41 on Wednesday. The firm has a market capitalization of $7.99 billion, a PE ratio of 11.67 and a beta of 1.30. Sunoco has a 1 year low of $44.26 and a 1 year high of $64.89. The company has a current ratio of 1.26, a quick ratio of 0.72 and a debt-to-equity ratio of 1.69. The firm’s fifty day simple moving average is $54.65 and its 200 day simple moving average is $56.03.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $2.62. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. On average, sell-side analysts anticipate that Sunoco will post 7.01 EPS for the current year.

Hedge Funds Weigh In On Sunoco

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in Sunoco by 3.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company’s stock valued at $574,000 after acquiring an additional 283 shares during the period. Focus Financial Network Inc. ADV bought a new stake in shares of Sunoco in the 4th quarter worth about $905,000. Goldman Sachs Group Inc. increased its position in shares of Sunoco by 10.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,904,735 shares of the oil and gas company’s stock worth $174,081,000 after purchasing an additional 275,875 shares in the last quarter. Miller Howard Investments Inc. NY lifted its holdings in Sunoco by 4.2% during the 1st quarter. Miller Howard Investments Inc. NY now owns 437,171 shares of the oil and gas company’s stock valued at $26,357,000 after purchasing an additional 17,757 shares during the last quarter. Finally, Castleark Management LLC boosted its position in Sunoco by 332.1% in the first quarter. Castleark Management LLC now owns 31,930 shares of the oil and gas company’s stock valued at $1,925,000 after buying an additional 24,540 shares in the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

About Sunoco

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.