Barclays Increases Sunoco (NYSE:SUN) Price Target to $63.00

Sunoco (NYSE:SUN - Free Report) had its price objective lifted by Barclays from $60.00 to $63.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the oil and gas company's stock.

SUN has been the topic of a number of other research reports. Royal Bank of Canada raised their price target on Sunoco from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Monday. JPMorgan Chase & Co. upped their price target on shares of Sunoco from $61.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.75.

Sunoco Stock Down 1.4 %

Sunoco stock traded down $0.75 during mid-day trading on Tuesday, hitting $53.41. The company had a trading volume of 335,190 shares, compared to its average volume of 508,113. 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 has a 1 year low of $49.45 and a 1 year high of $64.89. The business has a fifty day moving average of $53.13 and a 200 day moving average of $53.68. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 12.28 and a beta of 1.34.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS 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 company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. Sunoco's revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts expect that Sunoco will post 7.16 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.8756 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.50 annualized dividend and a dividend yield of 6.56%. Sunoco's dividend payout ratio is currently 80.46%.

Institutional Investors Weigh In On Sunoco

Institutional investors have recently made changes to their positions in the stock. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco in the second quarter valued at about $32,000. First Horizon Advisors Inc. purchased a new position in Sunoco in the second quarter valued at about $38,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Sunoco during the 2nd quarter valued at approximately $46,000. HHM Wealth Advisors LLC purchased a new stake in shares of Sunoco during the 2nd quarter worth approximately $93,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunoco in the 3rd quarter worth approximately $165,000. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

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.