Mizuho Forecasts Strong Price Appreciation for Sunoco (NYSE:SUN) Stock

Sunoco (NYSE:SUN) had its price objective lifted by equities researchers at Mizuho from $66.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s target price suggests a potential upside of 17.76% from the company’s previous close.

SUN has been the subject of several other research reports. Barclays reduced their price target on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Royal Bank of Canada lifted their price objective on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.83.

Sunoco Stock Down 2.3 %

NYSE:SUN traded down $1.39 during trading hours on Thursday, reaching $57.75. The company had a trading volume of 30,607 shares, compared to its average volume of 506,654. The business’s 50-day simple moving average is $57.65 and its two-hundred day simple moving average is $54.60. Sunoco has a twelve month low of $49.45 and a twelve month high of $60.44. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 8.75 and a beta of 1.35. The company has a quick ratio of 0.66, a current ratio of 1.27 and a debt-to-equity ratio of 1.84.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its holdings in shares of Sunoco by 15.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 11,789 shares of the oil and gas company’s stock worth $633,000 after buying an additional 1,613 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in shares of Sunoco during the 3rd quarter worth approximately $416,000. Hilltop Holdings Inc. raised its holdings in shares of Sunoco by 11.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 1,117 shares during the period. HighTower Advisors LLC lifted its stake in Sunoco by 4.1% in the third quarter. HighTower Advisors LLC now owns 27,364 shares of the oil and gas company’s stock valued at $1,467,000 after purchasing an additional 1,073 shares during the last quarter. Finally, IHT Wealth Management LLC grew its holdings in Sunoco by 2.6% during the third quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock valued at $517,000 after purchasing an additional 245 shares during the period. 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.