Sunoco (NYSE:SUN) was downgraded by analysts at Goldman Sachs Group to a “sell” rating in a report issued on Wednesday. They currently have a $28.00 target price on the oil and gas company’s stock. Goldman Sachs Group’s target price points to a potential downside of 0.07% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. UBS Group reissued a “neutral” rating and set a $29.00 price objective (down previously from $30.00) on shares of Sunoco in a report on Friday, March 2nd. Zacks Investment Research downgraded Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Jefferies Group reissued a “neutral” rating on shares of Sunoco in a report on Wednesday, December 20th. B. Riley set a $32.00 price objective on Sunoco and gave the company a “neutral” rating in a report on Monday, December 18th. Finally, Mitsubishi UFJ Financial Group raised Sunoco from an “underweight” rating to a “neutral” rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Sunoco presently has an average rating of “Hold” and a consensus target price of $31.34.
Shares of Sunoco (NYSE SUN) opened at $28.02 on Wednesday. The firm has a market capitalization of $2,771.09, a price-to-earnings ratio of -3.51 and a beta of 0.60. Sunoco has a twelve month low of $23.50 and a twelve month high of $33.11. The company has a quick ratio of 3.39, a current ratio of 3.74 and a debt-to-equity ratio of 2.20.
In related news, insider Arnold Dodderer sold 2,512 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $28.98, for a total transaction of $72,797.76. Following the completion of the transaction, the insider now directly owns 23,923 shares of the company’s stock, valued at approximately $693,288.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
A number of large investors have recently made changes to their positions in the stock. Bramshill Investments LLC bought a new position in Sunoco during the 4th quarter worth $1,033,000. LPL Financial LLC raised its position in Sunoco by 86.4% during the 4th quarter. LPL Financial LLC now owns 17,740 shares of the oil and gas company’s stock worth $504,000 after purchasing an additional 8,224 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Sunoco by 19.3% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,235 shares of the oil and gas company’s stock worth $773,000 after purchasing an additional 4,406 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Sunoco by 28.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,253,931 shares of the oil and gas company’s stock worth $64,011,000 after purchasing an additional 495,187 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Sunoco by 168.9% during the 4th quarter. Deutsche Bank AG now owns 913,280 shares of the oil and gas company’s stock worth $25,937,000 after purchasing an additional 573,698 shares during the last quarter. 30.02% of the stock is owned by institutional investors and hedge funds.
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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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