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

Sunoco (NYSE:SUN) had its price target upped by Royal Bank of Canada from $63.00 to $64.00 in a research note published on Monday,Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

Separately, JPMorgan Chase & Co. raised their price objective on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and an average price target of $62.38.

Sunoco Stock Up 0.0 %

SUN stock opened at $54.16 on Monday. The stock has a 50-day simple moving average of $53.13 and a two-hundred day simple moving average of $53.68. Sunoco has a twelve month low of $49.45 and a twelve month high of $64.89. The firm has a market capitalization of $8.25 billion, a PE ratio of 12.45 and a beta of 1.34. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74.

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

Sunoco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.8756 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.47%. Sunoco’s payout ratio is 80.46%.

Hedge Funds Weigh In On Sunoco

A number of hedge funds have recently added to or reduced their stakes in SUN. Longfellow Investment Management Co. LLC bought a new position in Sunoco in the second quarter worth approximately $32,000. First Horizon Advisors Inc. bought a new stake in Sunoco during the second quarter valued at about $38,000. Redwood Wealth Management Group LLC purchased a new position in Sunoco in the second quarter valued at about $46,000. HHM Wealth Advisors LLC bought a new position in Sunoco in the second quarter worth about $93,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunoco during the third quarter valued at about $165,000. 24.29% of the stock is currently owned by institutional investors.

Sunoco Company Profile

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.