Sunoco (SUN) Rating Reiterated by Jefferies Group
Jefferies Group reaffirmed their neutral rating on shares of Sunoco (NYSE:SUN) in a research report sent to investors on Wednesday. Jefferies Group also issued estimates for Sunoco’s Q4 2017 earnings at ($0.14) EPS, Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.48 EPS, FY2018 earnings at $1.81 EPS, FY2019 earnings at $2.23 EPS, FY2020 earnings at $1.92 EPS and FY2021 earnings at $1.84 EPS.
Several other brokerages have also issued reports on SUN. Royal Bank of Canada reaffirmed a buy rating and set a $35.00 target price on shares of Sunoco in a research report on Tuesday, October 10th. BidaskClub raised Sunoco from a sell rating to a hold rating in a research report on Saturday, August 26th. Robert W. Baird reaffirmed a buy rating and set a $36.00 target price on shares of Sunoco in a research report on Friday, November 10th. Mizuho reaffirmed a sell rating and set a $29.00 target price on shares of Sunoco in a research report on Friday, October 20th. Finally, Mitsubishi UFJ Financial Group reissued an underweight rating on shares of Sunoco in a report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $32.29.
Sunoco (SUN) traded up $0.11 during midday trading on Wednesday, reaching $28.46. The company had a trading volume of 464,854 shares, compared to its average volume of 399,257. The stock has a market cap of $2,830.00, a price-to-earnings ratio of -5.55 and a beta of 0.56. Sunoco has a twelve month low of $23.09 and a twelve month high of $32.67. The company has a debt-to-equity ratio of 2.28, a current ratio of 4.02 and a quick ratio of 3.75.
In other news, Director Stephen Pearce sold 70,000 shares of Sunoco stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $0.43, for a total transaction of $30,100.00. Also, insider Arnold Dodderer sold 2,512 shares of Sunoco stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $28.98, for a total value of $72,797.76. Following the sale, the insider now owns 23,923 shares of the company’s stock, valued at approximately $693,288.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 322,512 shares of company stock valued at $212,898.
Institutional investors and hedge funds have recently modified their holdings of the company. Quinn Opportunity Partners LLC purchased a new position in shares of Sunoco during the 2nd quarter valued at about $2,541,000. Goldman Sachs Group Inc. raised its holdings in shares of Sunoco by 1.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,340,350 shares of the oil and gas company’s stock valued at $41,028,000 after buying an additional 17,894 shares in the last quarter. Arrow Investment Advisors LLC purchased a new position in shares of Sunoco during the 2nd quarter valued at about $853,000. Northwestern Mutual Investment Management Company LLC purchased a new position in shares of Sunoco during the 2nd quarter valued at about $5,843,000. Finally, Harvest Fund Advisors LLC raised its holdings in shares of Sunoco by 26.6% during the 3rd quarter. Harvest Fund Advisors LLC now owns 1,339,519 shares of the oil and gas company’s stock valued at $41,659,000 after buying an additional 281,414 shares in the last quarter. Hedge funds and other institutional investors own 26.32% of the company’s stock.
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Sunoco Company Profile
Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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