Royal Bank of Canada Boosts Sunoco (NYSE:SUN) Price Target to $64.00

Sunoco (NYSE:SUN) had its target price increased by Royal Bank of Canada from $63.00 to $64.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 19.83% from the company’s previous close.

Separately, JPMorgan Chase & Co. boosted their price objective on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Sunoco Price Performance

Shares of NYSE:SUN opened at $53.41 on Monday. Sunoco has a twelve month low of $49.45 and a twelve month high of $64.89. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $8.14 billion, a PE ratio of 12.28 and a beta of 1.34. The company’s 50 day moving average is $53.12 and its 200 day moving average is $53.70.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 EPS. On average, sell-side analysts forecast that Sunoco will post 7.16 EPS for the current year.

Hedge Funds Weigh In On Sunoco

A number of large investors have recently bought and sold shares of the business. Longfellow Investment Management Co. LLC purchased a new stake in shares of Sunoco in the second quarter valued at approximately $32,000. First Horizon Advisors Inc. purchased a new stake in Sunoco in the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC purchased a new stake in Sunoco in the 2nd quarter worth $46,000. HHM Wealth Advisors LLC acquired a new position in Sunoco during the second quarter worth $93,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Sunoco during the third quarter valued at $165,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

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.