Sunoco (SUN) Upgraded to Overweight by JPMorgan Chase & Co.
JPMorgan Chase & Co. upgraded shares of Sunoco (NYSE:SUN) from a neutral rating to an overweight rating in a report published on Tuesday, MarketBeat reports. The brokerage currently has $29.20 price target on the oil and gas company’s stock.
Several other equities research analysts also recently weighed in on SUN. Jefferies Group reissued a hold rating and issued a $30.00 target price (up previously from $29.00) on shares of Sunoco in a research note on Monday, September 11th. Credit Suisse Group began coverage on shares of Sunoco in a research note on Thursday, January 4th. They issued a neutral rating and a $28.00 target price on the stock. Royal Bank of Canada reissued a buy rating and issued a $35.00 target price on shares of Sunoco in a research note on Tuesday, October 10th. B. Riley set a $32.00 target price on shares of Sunoco and gave the company a neutral rating in a research note on Monday, December 18th. Finally, Goldman Sachs Group raised shares of Sunoco from a sell rating to a neutral rating and set a $33.00 target price on the stock in a research note on Monday, December 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Sunoco presently has an average rating of Hold and a consensus price target of $31.61.
Sunoco (NYSE SUN) traded up $0.20 during trading on Tuesday, reaching $30.40. 450,900 shares of the company were exchanged, compared to its average volume of 508,044. The stock has a market capitalization of $3,020.00, a P/E ratio of -5.93 and a beta of 0.56. The company has a current ratio of 4.02, a quick ratio of 3.75 and a debt-to-equity ratio of 2.28. Sunoco has a 52 week low of $23.09 and a 52 week high of $32.67.
In other news, insider Arnold Dodderer sold 2,512 shares of the company’s 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 transaction, the insider now directly owns 23,923 shares in the company, valued at $693,288.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BB&T Investment Services Inc. bought a new position in shares of Sunoco in the second quarter worth about $100,000. The Manufacturers Life Insurance Company grew its holdings in shares of Sunoco by 24.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 1,213 shares during the last quarter. Suntrust Banks Inc. bought a new position in shares of Sunoco in the second quarter worth about $235,000. Raymond James Trust N.A. bought a new position in shares of Sunoco in the second quarter worth about $246,000. Finally, California Public Employees Retirement System bought a new position in shares of Sunoco in the third quarter worth about $329,000. 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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