Adams Asset Advisors LLC grew its stake in Sunoco LP (NYSE:SUN) by 7.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,143 shares of the oil and gas company’s stock after purchasing an additional 17,926 shares during the quarter. Sunoco comprises about 0.9% of Adams Asset Advisors LLC’s holdings, making the stock its 21st biggest holding. Adams Asset Advisors LLC owned about 0.21% of Sunoco worth $7,018,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. First Heartland Consultants Inc. raised its holdings in Sunoco by 20.7% in the 3rd quarter. First Heartland Consultants Inc. now owns 19,583 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 3,359 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Sunoco in the 3rd quarter worth $438,000. California Public Employees Retirement System bought a new position in Sunoco in the 3rd quarter worth $329,000. Allianz Asset Management GmbH bought a new position in Sunoco in the 3rd quarter worth $1,444,000. Finally, Wells Fargo & Company MN raised its holdings in Sunoco by 18.2% in the 3rd quarter. Wells Fargo & Company MN now owns 46,128 shares of the oil and gas company’s stock worth $1,434,000 after purchasing an additional 7,102 shares in the last quarter. Institutional investors and hedge funds own 26.32% of the company’s stock.
Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Royal Bank of Canada restated a “buy” rating and issued a $35.00 price objective on shares of Sunoco in a report on Tuesday, October 10th. Jefferies Group restated a “neutral” rating on shares of Sunoco in a report on Wednesday, December 20th. B. Riley set a $32.00 price objective on shares of Sunoco and gave the stock a “neutral” rating in a report on Monday, December 18th. Finally, JPMorgan Chase & Co. upgraded shares of Sunoco from a “neutral” rating to an “overweight” rating and set a $29.20 price objective for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.61.
Sunoco LP (SUN) traded up $0.40 during trading hours on Thursday, hitting $30.80. 440,874 shares of the stock were exchanged, compared to its average volume of 550,097. The stock has a market cap of $3,060.00, a P/E ratio of -6.00 and a beta of 0.56. The company has a quick ratio of 3.75, a current ratio of 4.02 and a debt-to-equity ratio of 2.28. Sunoco LP has a 12-month low of $23.09 and a 12-month high of $32.67.
In other news, insider Arnold Dodderer sold 2,512 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $28.98, for a total value of $72,797.76. Following the sale, the insider now directly owns 23,923 shares of the company’s stock, valued at approximately $693,288.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its 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. The Company operates through two segments: wholesale and retail.
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