JPMorgan Chase & Co. upgraded shares of Sunoco (NYSE:SUN) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday, Marketbeat reports. JPMorgan Chase & Co. currently has $29.20 price target on the oil and gas company’s stock.
Several other brokerages have also recently weighed in on SUN. B. Riley set a $32.00 price objective on Sunoco and gave the company a neutral rating in a research note on Monday, December 18th. Jefferies Group restated a hold rating and set a $30.00 price objective on shares of Sunoco in a research note on Friday, October 13th. Robert W. Baird restated a buy rating and set a $36.00 price objective on shares of Sunoco in a research note on Friday, November 10th. Royal Bank of Canada restated a buy rating and set a $35.00 price objective on shares of Sunoco in a research note on Tuesday, October 10th. Finally, Zacks Investment Research cut Sunoco from a buy rating to a hold rating in a research note on Thursday, December 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $31.61.
Shares of Sunoco (NYSE:SUN) traded up $0.79 on Tuesday, hitting $31.59. The company had a trading volume of 653,906 shares, compared to its average volume of 501,454. Sunoco has a 12 month low of $23.09 and a 12 month high of $32.67. The company has a current ratio of 4.02, a quick ratio of 3.75 and a debt-to-equity ratio of 2.28. The company has a market cap of $3,569.47, a PE ratio of -3.95 and a beta of 0.56.
In other news, insider Arnold Dodderer sold 2,512 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $28.98, for a total transaction of $72,797.76. Following the completion of the sale, the insider now directly owns 23,923 shares of the company’s stock, valued at approximately $693,288.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Several institutional investors have recently made changes to their positions in SUN. BB&T Investment Services Inc. purchased a new stake in shares of Sunoco during the 2nd quarter valued at $100,000. The Manufacturers Life Insurance Company increased its position in shares of Sunoco by 24.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock valued at $191,000 after purchasing an additional 1,213 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in shares of Sunoco during the 2nd quarter valued at $235,000. Raymond James Trust N.A. purchased a new stake in shares of Sunoco during the 2nd quarter valued at $246,000. Finally, California Public Employees Retirement System purchased a new stake in shares of Sunoco during the 3rd quarter valued at $329,000. 26.32% of the stock is owned by hedge funds and other institutional investors.
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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