JPMorgan Chase & Co. lowered shares of Sunoco (NYSE:SUN) from an overweight rating to a neutral rating in a research report report published on Friday morning, MarketBeat Ratings reports. The firm currently has $32.00 price objective on the oil and gas company’s stock, down from their previous price objective of $33.00.

Several other research analysts have also recently issued reports on SUN. Jefferies Financial Group upgraded shares of Sunoco from an underperform rating to a hold rating and set a $30.00 target price for the company in a report on Wednesday, July 18th. Raymond James restated a buy rating on shares of Sunoco in a report on Monday, August 13th. Zacks Investment Research upgraded shares of Sunoco from a strong sell rating to a hold rating in a report on Wednesday, August 15th. Wells Fargo & Co lowered their target price on shares of Sunoco from $30.00 to $29.00 and set a market perform rating for the company in a report on Thursday, September 13th. Finally, TheStreet upgraded shares of Sunoco from a c+ rating to a b- rating in a research report on Monday, September 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $31.00.

Shares of Sunoco stock traded down $0.47 during trading hours on Friday, hitting $29.11. The company had a trading volume of 502,598 shares, compared to its average volume of 392,903. Sunoco has a twelve month low of $24.46 and a twelve month high of $33.11. The company has a current ratio of 1.07, a quick ratio of 0.67 and a debt-to-equity ratio of 2.84. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 12.71 and a beta of 0.80.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, August 8th. The oil and gas company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Sunoco had a net margin of 0.86% and a return on equity of 33.25%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the business posted ($0.59) EPS. The company’s revenue for the quarter was up 59.3% on a year-over-year basis. On average, analysts forecast that Sunoco will post 2.3 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. raised its position in Sunoco by 1.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 13,585,922 shares of the oil and gas company’s stock valued at $339,105,000 after purchasing an additional 186,248 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Sunoco in the 2nd quarter valued at $877,000. Royal Bank of Canada raised its position in Sunoco by 120.6% in the 1st quarter. Royal Bank of Canada now owns 80,889 shares of the oil and gas company’s stock valued at $2,063,000 after purchasing an additional 44,221 shares during the last quarter. Centaurus Financial Inc. purchased a new position in Sunoco during the 2nd quarter worth $369,000. Finally, Western Standard LLC purchased a new position in Sunoco during the 2nd quarter worth $749,000. Hedge funds and other institutional investors own 28.60% of the company’s stock.

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.

See Also: Earnings Per Share (EPS)

Analyst Recommendations for Sunoco (NYSE:SUN)

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