Sunoco (NYSE:SUN) Stock Price Expected to Rise, Barclays Analyst Says

Sunoco (NYSE:SUN) had its price target hoisted by research analysts at Barclays from $59.00 to $62.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective would suggest a potential upside of 7.30% from the company’s current price.

A number of other brokerages have also recently commented on SUN. Mizuho increased their target price on Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price target on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Sunoco currently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Sunoco Price Performance

Shares of Sunoco stock opened at $57.78 on Friday. The business has a 50 day simple moving average of $56.36 and a two-hundred day simple moving average of $54.14. Sunoco has a 12 month low of $49.45 and a 12 month high of $62.55. The stock has a market capitalization of $8.82 billion, a P/E ratio of 8.75 and a beta of 1.35. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66.

Sunoco (NYSE:SUN) last announced its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. As a group, analysts predict that Sunoco will post 10.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Sunoco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ING Groep NV acquired a new stake in Sunoco during the third quarter worth $8,520,000. PNC Financial Services Group Inc. increased its stake in Sunoco by 1.5% during the third quarter. PNC Financial Services Group Inc. now owns 31,526 shares of the oil and gas company’s stock worth $1,692,000 after acquiring an additional 456 shares during the last quarter. Moors & Cabot Inc. increased its stake in Sunoco by 10.3% during the third quarter. Moors & Cabot Inc. now owns 13,624 shares of the oil and gas company’s stock worth $731,000 after acquiring an additional 1,277 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in Sunoco during the third quarter worth $245,000. Finally, Kingsview Wealth Management LLC increased its stake in Sunoco by 18.4% during the third quarter. Kingsview Wealth Management LLC now owns 9,213 shares of the oil and gas company’s stock worth $495,000 after acquiring an additional 1,434 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Company Profile

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.