F&V Capital Management LLC Increases Position in Sunoco LP (NYSE:SUN)

F&V Capital Management LLC raised its holdings in Sunoco LP (NYSE:SUN) by 10.0% in the first quarter, Holdings Channel reports. The fund owned 8,250 shares of the oil and gas company’s stock after buying an additional 750 shares during the period. F&V Capital Management LLC’s holdings in Sunoco were worth $497,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of Sunoco during the 4th quarter worth approximately $27,000. ICA Group Wealth Management LLC purchased a new position in shares of Sunoco during the 4th quarter worth $30,000. Allworth Financial LP raised its holdings in Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 500 shares during the period. Retirement Solution Inc. purchased a new position in Sunoco during the fourth quarter worth about $200,000. Finally, Alpha Cubed Investments LLC acquired a new stake in shares of Sunoco during the fourth quarter valued at about $207,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sunoco

In other Sunoco news, Director David K. Skidmore purchased 1,500 shares of Sunoco stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $52.10 per share, with a total value of $78,150.00. Following the acquisition, the director now directly owns 14,608 shares of the company’s stock, valued at $761,076.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Joseph Kim purchased 5,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $50.50 per share, for a total transaction of $252,500.00. Following the acquisition, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $505,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David K. Skidmore acquired 1,500 shares of Sunoco stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average price of $52.10 per share, with a total value of $78,150.00. Following the purchase, the director now directly owns 14,608 shares of the company’s stock, valued at $761,076.80. The disclosure for this purchase can be found here. Insiders have bought a total of 9,500 shares of company stock worth $479,570 over the last ninety days.

Sunoco Stock Up 0.3 %

Shares of Sunoco stock traded up $0.18 during trading on Wednesday, hitting $56.75. 726,404 shares of the stock were exchanged, compared to its average volume of 586,724. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 12.64 and a beta of 1.29. The firm’s 50-day moving average price is $53.86 and its 200 day moving average price is $57.55. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65 and a quick ratio of 1.07. Sunoco LP has a 12-month low of $43.00 and a 12-month high of $64.89.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. The business had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.13 billion. As a group, analysts forecast that Sunoco LP will post 6.09 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.876 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.50 annualized dividend and a dividend yield of 6.17%. Sunoco’s payout ratio is presently 77.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SUN shares. Mizuho upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $60.00 to $59.00 in a report on Tuesday, June 4th. Stifel Nicolaus raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Friday, June 7th. StockNews.com raised shares of Sunoco from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Citigroup upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, June 18th. Finally, Barclays assumed coverage on Sunoco in a research note on Monday, June 10th. They issued an “overweight” rating and a $61.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Sunoco Profile

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.