Several other research firms have also recently issued reports on SUN. Jefferies Group cut Sunoco from an overweight rating to a neutral rating and cut their target price for the stock from $34.00 to $24.00 in a research note on Wednesday, June 8th. Vetr cut Sunoco from a buy rating to a sell rating and set a $29.50 target price for the company. in a research note on Wednesday, June 8th. Robert W. Baird cut Sunoco from an outperform rating to a neutral rating and cut their target price for the stock from $43.00 to $30.00 in a research note on Thursday, August 4th. Zacks Investment Research raised Sunoco from a strong sell rating to a hold rating in a research note on Wednesday, July 27th. Finally, FBR & Co started coverage on Sunoco in a research note on Friday, September 9th. They issued a market perform rating and a $32.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Sunoco presently has a consensus rating of Hold and a consensus price target of $34.76.
Sunoco (NYSE:SUN) opened at 28.77 on Thursday. The company’s 50-day moving average price is $29.98 and its 200 day moving average price is $31.44. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 24.16 and a beta of 0.67. Sunoco has a 12 month low of $22.86 and a 12 month high of $40.06.
Hedge funds have recently made changes to their positions in the company. Cohen & Steers Inc. increased its stake in shares of Sunoco by 1,155,502.3% in the second quarter. Cohen & Steers Inc. now owns 2,022,304 shares of the company’s stock worth $516,881,000 after buying an additional 2,022,129 shares during the period. Royal Bank of Canada increased its stake in Sunoco by 263.8% in the first quarter. Royal Bank of Canada now owns 1,043,339 shares of the company’s stock valued at $34,566,000 after buying an additional 756,518 shares during the last quarter. Bank of Montreal Can purchased a new stake in Sunoco during the second quarter valued at $15,544,000. Stifel Financial Corp purchased a new stake in Sunoco during the second quarter valued at $9,019,000. Finally, Evergreen Capital Management LLC purchased a new stake in Sunoco during the second quarter valued at $6,819,000. 41.97% of the stock is owned by institutional investors.
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors.
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