142,055 Shares in Sunoco LP $SUN Bought by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. bought a new position in shares of Sunoco LP (NYSE:SUN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 142,055 shares of the oil and gas company’s stock, valued at approximately $7,104,000. CIBC Bancorp USA Inc. owned 0.07% of Sunoco as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. acquired a new stake in Sunoco in the third quarter valued at $31,000. Ancora Advisors LLC purchased a new stake in Sunoco during the 3rd quarter worth about $40,000. Ulland Investment Advisors LLC acquired a new position in shares of Sunoco during the 3rd quarter worth about $100,000. State of Wyoming purchased a new position in shares of Sunoco in the 2nd quarter valued at about $111,000. Finally, Caitlin John LLC purchased a new position in shares of Sunoco in the 3rd quarter valued at about $120,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of SUN opened at $65.01 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.78 and a current ratio of 1.38. The stock has a market capitalization of $13.31 billion, a P/E ratio of 28.64 and a beta of 0.49. The company’s fifty day moving average is $60.67 and its two-hundred day moving average is $55.24. Sunoco LP has a 1 year low of $47.98 and a 1 year high of $67.82.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($1.55). The business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $9.65 billion. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The business’s revenue for the quarter was up 63.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. On average, sell-side analysts predict that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a $0.9317 dividend. This represents a $3.73 annualized dividend and a dividend yield of 5.7%. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, February 6th. Sunoco’s dividend payout ratio (DPR) is 164.32%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SUN shares. Stifel Nicolaus boosted their target price on Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Barclays set a $63.00 price target on shares of Sunoco in a research note on Friday, February 20th. Wells Fargo & Company boosted their price objective on shares of Sunoco from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Raymond James Financial upgraded shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a report on Monday, January 5th. Finally, Zacks Research downgraded shares of Sunoco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.83.

Sunoco Company Profile

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.