Barclays Lowers Sunoco (NYSE:SUN) Price Target to $61.00

Sunoco (NYSE:SUN) had its price objective dropped by investment analysts at Barclays from $62.00 to $61.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target would suggest a potential upside of 3.14% from the stock’s previous close.

A number of other research firms have also recently weighed in on SUN. Mizuho upped their price target on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their target price on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunoco presently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

Sunoco Stock Performance

NYSE:SUN opened at $59.14 on Friday. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 8.96 and a beta of 1.35. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. Sunoco has a 1-year low of $49.45 and a 1-year high of $60.61. The firm’s fifty day moving average price is $57.42 and its 200 day moving average price is $54.49.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. On average, sell-side analysts expect that Sunoco will post 10.65 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of Sunoco by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock worth $117,644,000 after acquiring an additional 455,361 shares during the period. Barclays PLC increased its holdings in shares of Sunoco by 908,833.3% during the 3rd quarter. Barclays PLC now owns 436,288 shares of the oil and gas company’s stock worth $23,419,000 after buying an additional 436,240 shares during the last quarter. ING Groep NV raised its position in shares of Sunoco by 223.7% in the 4th quarter. ING Groep NV now owns 513,715 shares of the oil and gas company’s stock worth $26,426,000 after buying an additional 355,000 shares during the period. Raymond James Financial Inc. acquired a new position in Sunoco in the fourth quarter valued at $17,739,000. Finally, CIBC Private Wealth Group LLC grew its position in Sunoco by 32,166.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company’s stock valued at $12,137,000 after acquiring an additional 230,634 shares during the period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

About Sunoco

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.