Fmr LLC decreased its stake in Sunoco LP (NYSE:SUN) by 76.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,900 shares of the oil and gas company’s stock after selling 451,541 shares during the quarter. Fmr LLC owned approximately 0.14% of Sunoco worth $3,417,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Sunoco by 6,579.2% during the first quarter. BlackRock Inc. now owns 677,603 shares of the oil and gas company’s stock worth $17,285,000 after purchasing an additional 667,458 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in shares of Sunoco during the first quarter worth about $120,000. UBS Group AG raised its position in shares of Sunoco by 1.1% during the first quarter. UBS Group AG now owns 444,523 shares of the oil and gas company’s stock worth $11,339,000 after purchasing an additional 4,695 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Sunoco during the first quarter worth about $1,330,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Sunoco by 32.2% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 36,011 shares of the oil and gas company’s stock worth $919,000 after purchasing an additional 8,776 shares during the period. Institutional investors and hedge funds own 28.60% of the company’s stock.
A number of equities research analysts have recently commented on SUN shares. Jefferies Financial Group raised Sunoco from an “underperform” rating to a “hold” rating and set a $30.00 price target on the stock in a research report on Wednesday, July 18th. Raymond James reaffirmed a “buy” rating on shares of Sunoco in a research report on Monday, August 13th. Zacks Investment Research raised Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Wells Fargo & Co dropped their target price on Sunoco from $30.00 to $29.00 and set a “market perform” rating on the stock in a research report on Thursday, September 13th. Finally, TheStreet raised Sunoco from a “c+” rating to a “b-” rating in a research report on Monday, September 24th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.00.
Shares of Sunoco stock opened at $29.11 on Friday. Sunoco LP has a 52-week low of $24.46 and a 52-week high of $33.11. The company has a market capitalization of $2.92 billion, a P/E ratio of 12.93 and a beta of 0.80. The company has a current ratio of 1.07, a quick ratio of 0.67 and a debt-to-equity ratio of 2.84.
Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 8th. The oil and gas company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Sunoco had a return on equity of 33.25% and a net margin of 0.86%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the firm earned ($0.59) EPS. Sunoco’s revenue for the quarter was up 59.3% compared to the same quarter last year. Research analysts forecast that Sunoco LP will post 2.3 earnings per share for the current year.
Sunoco Company Profile
Sunoco LP, together with its subsidiaries, engages in the wholesale distribution and retail sale of motor fuels primarily in the United States. The company operates through two segments, Wholesale and Retail. It serves convenience stores and commission agent locations, contracted independent convenience store operators, and other commercial customers.
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