XTX Topco Ltd Purchases New Position in Sunoco LP (NYSE:SUN)

XTX Topco Ltd acquired a new stake in shares of Sunoco LP (NYSE:SUN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,732 shares of the oil and gas company’s stock, valued at approximately $889,000.

Other institutional investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Sunoco by 9.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 12,185 shares of the oil and gas company’s stock worth $689,000 after purchasing an additional 1,028 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Sunoco during the 2nd quarter worth approximately $698,000. Redwood Wealth Management Group LLC bought a new position in Sunoco in the second quarter valued at approximately $46,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Sunoco by 34.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,617 shares of the oil and gas company’s stock valued at $261,000 after buying an additional 1,176 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in shares of Sunoco in the second quarter valued at approximately $1,980,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SUN. Stifel Nicolaus raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Friday, June 7th. Mizuho raised Sunoco from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $60.00 to $59.00 in a research report on Tuesday, June 4th. JPMorgan Chase & Co. lifted their target price on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Citigroup raised Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, June 18th. Finally, StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.14.

Sunoco Trading Down 1.5 %

Shares of Sunoco stock opened at $52.70 on Friday. Sunoco LP has a 12-month low of $46.36 and a 12-month high of $64.89. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average is $53.94 and its 200-day moving average is $55.33. The stock has a market cap of $5.32 billion, a P/E ratio of 11.74 and a beta of 1.30.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $2.62. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. Equities research analysts predict that Sunoco LP will post 8.09 earnings per share for the current fiscal year.

Sunoco Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend was Friday, August 9th. Sunoco’s dividend payout ratio (DPR) is presently 77.95%.

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.