Oxbow Advisors LLC Makes New $462,000 Investment in Sunoco LP (NYSE:SUN)

Oxbow Advisors LLC acquired a new stake in Sunoco LP (NYSE:SUN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,169 shares of the oil and gas company’s stock, valued at approximately $462,000.

Other large investors have also made changes to their positions in the company. Principal Securities Inc. acquired a new position in Sunoco in the 4th quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new position in shares of Sunoco during the fourth quarter valued at approximately $30,000. CNB Bank acquired a new stake in Sunoco during the first quarter worth approximately $30,000. First Horizon Advisors Inc. purchased a new stake in Sunoco in the 2nd quarter worth approximately $38,000. Finally, Register Financial Advisors LLC acquired a new position in Sunoco in the 1st quarter valued at $55,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analyst Ratings Changes

SUN has been the subject of a number of recent analyst reports. Citigroup raised Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, June 18th. Barclays dropped their price objective on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Mizuho raised shares of Sunoco from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $60.00 to $59.00 in a research report on Tuesday, June 4th. Stifel Nicolaus raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Friday, June 7th. Finally, StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.14.

Sunoco Trading Down 1.1 %

SUN stock traded down $0.60 during midday trading on Friday, reaching $51.87. 356,293 shares of the company’s stock traded hands, compared to its average volume of 656,150. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. Sunoco LP has a fifty-two week low of $44.26 and a fifty-two week high of $64.89. The business has a 50-day moving average price of $54.55 and a two-hundred day moving average price of $55.96. The company has a market capitalization of $7.91 billion, a P/E ratio of 11.55 and a beta of 1.30.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $2.62. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same quarter last year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Sunoco LP will post 7.01 EPS for the current fiscal year.

Sunoco Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.8756 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.75%. The ex-dividend date was Friday, August 9th. Sunoco’s payout ratio is 77.95%.

Sunoco 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.