Sunoco (NYSE:SUN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Sunoco LP operates as a wholesale fuel distributor. It engages in distributing motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Company also operates convenience stores and retail fuel sites. Sunoco LP, formerly known as Susser Petroleum Partners LP, is based in Houston, Texas. “

Several other analysts also recently issued reports on the company. Jefferies Financial Group raised Sunoco from an “underperform” rating to a “hold” rating and set a $30.00 price target on the stock in a research note on Wednesday, July 18th. Raymond James reissued a “buy” rating on shares of Sunoco in a research note on Monday, August 13th. Wells Fargo & Co dropped their price target on Sunoco from $30.00 to $29.00 and set a “market perform” rating on the stock in a research note on Thursday, September 13th. TheStreet raised Sunoco from a “c+” rating to a “b-” rating in a research note on Monday, September 24th. Finally, JPMorgan Chase & Co. downgraded Sunoco from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $32.00 in a research note on Friday, October 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.

SUN stock traded down $0.22 during midday trading on Wednesday, hitting $29.37. 1,100 shares of the company’s stock were exchanged, compared to its average volume of 393,603. 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 firm has a market cap of $2.92 billion, a PE ratio of 12.84 and a beta of 0.80. Sunoco has a one year low of $24.46 and a one year high of $33.11.

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

Several large investors have recently added to or reduced their stakes in the stock. Ferris Capital LLC increased its position in shares of Sunoco by 16.8% in the second quarter. Ferris Capital LLC now owns 17,749 shares of the oil and gas company’s stock valued at $443,000 after acquiring an additional 2,559 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Sunoco by 2.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 122,507 shares of the oil and gas company’s stock valued at $3,058,000 after acquiring an additional 3,034 shares during the last quarter. LPL Financial LLC increased its position in shares of Sunoco by 21.8% in the first quarter. LPL Financial LLC now owns 21,616 shares of the oil and gas company’s stock valued at $551,000 after acquiring an additional 3,876 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Sunoco in the first quarter valued at about $120,000. Finally, UBS Group AG increased its position in shares of Sunoco by 1.1% in the first quarter. UBS Group AG now owns 444,523 shares of the oil and gas company’s stock valued at $11,339,000 after acquiring an additional 4,695 shares during the last quarter. 28.60% of the stock is currently owned by institutional investors and hedge funds.

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.

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