UBS Group Reaffirms Neutral Rating for Sunoco (SUN)
UBS Group reaffirmed their neutral rating on shares of Sunoco (NYSE:SUN) in a research note published on Friday morning, www.benzinga.com reports. UBS Group currently has a $29.00 price objective on the oil and gas company’s stock, down from their previous price objective of $30.00.
A number of other brokerages have also recently commented on SUN. B. Riley set a $32.00 price objective on shares of Sunoco and gave the stock a neutral rating in a research note on Monday, December 18th. Mitsubishi UFJ Financial Group raised shares of Sunoco from an underweight rating to a neutral rating in a research note on Wednesday, February 28th. Robert W. Baird reaffirmed a buy rating and set a $36.00 price objective on shares of Sunoco in a research note on Friday, November 10th. Janney Montgomery Scott began coverage on shares of Sunoco in a research note on Friday, January 19th. They issued a neutral rating and a $33.00 price target on the stock. Finally, Zacks Investment Research cut shares of Sunoco from a buy rating to a hold rating in a research note on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $31.63.
Shares of Sunoco (NYSE SUN) opened at $28.51 on Friday. The company has a market cap of $2,819.55, a P/E ratio of 16.87 and a beta of 0.60. Sunoco has a one year low of $23.09 and a one year high of $33.11. The company has a debt-to-equity ratio of 2.20, a quick ratio of 3.39 and a current ratio of 3.74.
In other Sunoco news, insider Arnold Dodderer sold 2,512 shares of Sunoco stock in a transaction on Friday, December 15th. The shares were sold at an average price of $28.98, for a total transaction of $72,797.76. Following the sale, the insider now owns 23,923 shares of the company’s stock, valued at approximately $693,288.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
A number of institutional investors and hedge funds have recently made changes to their positions in SUN. Deutsche Bank AG boosted its stake in Sunoco by 168.9% during the 4th quarter. Deutsche Bank AG now owns 913,280 shares of the oil and gas company’s stock worth $25,937,000 after purchasing an additional 573,698 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Sunoco by 28.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,253,931 shares of the oil and gas company’s stock worth $64,011,000 after purchasing an additional 495,187 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Sunoco during the 4th quarter worth $11,161,000. Renaissance Technologies LLC acquired a new stake in Sunoco during the 4th quarter worth $8,553,000. Finally, Harvest Fund Advisors LLC boosted its stake in Sunoco by 26.6% during the 3rd quarter. Harvest Fund Advisors LLC now owns 1,339,519 shares of the oil and gas company’s stock worth $41,659,000 after purchasing an additional 281,414 shares during the last quarter. 25.62% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This story was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://www.dailypolitical.com/2018/03/05/ubs-group-reaffirms-neutral-rating-for-sunoco-sun.html.
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.
Receive News & Ratings for Sunoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco and related companies with MarketBeat.com's FREE daily email newsletter.