Sunoco (NYSE:SUN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Sunoco (NYSE:SUN) had its price target raised by investment analysts at JPMorgan Chase & Co. from $73.00 to $84.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.75% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Wall Street Zen raised Sunoco from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Citigroup raised their target price on Sunoco from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 target price on shares of Sunoco in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price target on shares of Sunoco from $71.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Sunoco currently has a consensus rating of “Buy” and an average price target of $77.12.

Sunoco Price Performance

Sunoco stock opened at $75.17 on Friday. Sunoco has a 52 week low of $47.98 and a 52 week high of $77.03. The company’s 50 day moving average price is $68.17 and its two-hundred day moving average price is $64.57. The stock has a market cap of $15.40 billion, a P/E ratio of 19.22 and a beta of 0.42. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $1.14. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.Sunoco’s quarterly revenue was up 106.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. On average, equities analysts predict that Sunoco will post 7.92 earnings per share for the current year.

Institutional Trading of Sunoco

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Sunoco by 6.4% in the first quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company’s stock valued at $9,239,000 after buying an additional 9,592 shares during the period. Brown Advisory Inc. grew its stake in shares of Sunoco by 10.9% during the 2nd quarter. Brown Advisory Inc. now owns 12,174 shares of the oil and gas company’s stock worth $652,000 after acquiring an additional 1,201 shares during the period. NewEdge Advisors LLC grew its stake in shares of Sunoco by 226.2% during the 2nd quarter. NewEdge Advisors LLC now owns 7,088 shares of the oil and gas company’s stock worth $380,000 after acquiring an additional 4,915 shares during the period. Raymond James Financial Inc. grew its stake in shares of Sunoco by 5.5% during the 2nd quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company’s stock worth $19,611,000 after acquiring an additional 18,990 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Sunoco by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 37,488 shares of the oil and gas company’s stock worth $1,996,000 after acquiring an additional 2,810 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

About Sunoco

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.