Sunoco (NYSE:SUN) Now Covered by Analysts at JPMorgan Chase & Co.

by · The Cerbat Gem

Investment analysts at JPMorgan Chase & Co. began coverage on shares of Sunoco (NYSE:SUN – Get Free Report) in a report issued on Tuesday. The brokerage set an “overweight” rating and a $87.00 price target on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 19.55% from the stock’s previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company boosted their price objective on Sunoco from $77.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “buy (b)” rating on shares of Sunoco in a research note on Tuesday, August 18th. Mizuho set a $83.00 target price on Sunoco in a report on Friday, July 24th. Wall Street Zen lowered Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barclays reiterated an “overweight” rating and set a $83.00 price target on shares of Sunoco in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $79.75.

Get Our Latest Stock Report on Sunoco

Sunoco Stock Performance

SUN stock traded up $0.52 during midday trading on Tuesday, reaching $72.78. 4,460 shares of the company’s stock traded hands, compared to its average volume of 492,987. The company has a 50-day moving average price of $75.34 and a two-hundred day moving average price of $70.81. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.83 and a current ratio of 1.29. Sunoco has a 52 week low of $49.98 and a 52 week high of $80.22. The firm has a market capitalization of $14.91 billion, a PE ratio of 16.11 and a beta of 0.43.

Sunoco (NYSE:SUN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). Sunoco had a return on equity of 18.78% and a net margin of 2.88%. The company had revenue of $14.26 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the previous year, the business earned $0.33 earnings per share. Sunoco’s revenue was up 164.5% on a year-over-year basis. As a group, equities analysts anticipate that Sunoco will post 9.57 EPS for the current year.

Institutional Investors Weigh In On Sunoco

Several hedge funds have recently added to or reduced their stakes in SUN. Compass Financial Management LLC purchased a new position in shares of Sunoco in the 2nd quarter worth about $60,000. TD Waterhouse Canada Inc. raised its holdings in shares of Sunoco by 198.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 978 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 650 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Sunoco during the 1st quarter valued at about $78,000. IFP Advisors Inc raised its holdings in shares of Sunoco by 59.9% during the 3rd quarter. IFP Advisors Inc now owns 1,760 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 659 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in Sunoco in the 1st quarter worth approximately $138,000. Institutional investors own 24.29% of the company’s stock.

About Sunoco

(Get Free Report)

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand.

Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.

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