Sunoco (NYSE:SUN) Given New $63.00 Price Target at JPMorgan Chase & Co.

Sunoco (NYSE:SUN) had its price objective increased by JPMorgan Chase & Co. from $61.00 to $63.00 in a report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other analysts have also weighed in on SUN. StockNews.com lowered Sunoco from a buy rating to a hold rating in a research report on Thursday, August 8th. Citigroup raised Sunoco from a neutral rating to a buy rating and set a $65.00 price target on the stock in a research report on Tuesday, June 18th. Barclays lowered their price objective on Sunoco from $61.00 to $60.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Stifel Nicolaus raised shares of Sunoco from a hold rating to a buy rating and set a $62.00 target price on the stock in a report on Friday, June 7th. Finally, Mizuho upgraded shares of Sunoco from a neutral rating to a buy rating and lowered their price target for the stock from $60.00 to $59.00 in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $62.14.

Sunoco Price Performance

SUN opened at $51.87 on Wednesday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 11.55 and a beta of 1.30. The company has a current ratio of 1.26, a quick ratio of 0.72 and a debt-to-equity ratio of 1.69. The stock’s 50-day moving average price is $54.55 and its 200 day moving average price is $55.91. Sunoco has a 12-month low of $44.26 and a 12-month high of $64.89.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.63 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, sell-side analysts expect that Sunoco will post 7.01 earnings per share for the current year.

Sunoco Cuts Dividend

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

Institutional Trading of Sunoco

Several institutional investors have recently modified their holdings of the stock. Principal Securities Inc. acquired a new stake in Sunoco during the 4th quarter worth $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Sunoco during the fourth quarter worth about $30,000. CNB Bank purchased a new stake in shares of Sunoco in the 1st quarter valued at about $30,000. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco in the 2nd quarter valued at about $32,000. Finally, First Horizon Advisors Inc. purchased a new position in Sunoco during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors 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.