Sunoco LP (NYSE:SUN) Position Lifted by Fractal Investments LLC

Fractal Investments LLC raised its holdings in shares of Sunoco LP (NYSE:SUN) by 1,110.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 242,000 shares of the oil and gas company’s stock after acquiring an additional 222,000 shares during the quarter. Sunoco makes up 3.0% of Fractal Investments LLC’s portfolio, making the stock its 10th largest holding. Fractal Investments LLC’s holdings in Sunoco were worth $14,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CoreCap Advisors LLC purchased a new position in shares of Sunoco during the 4th quarter worth $2,036,000. PNC Financial Services Group Inc. lifted its stake in shares of Sunoco by 37.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 35,140 shares of the oil and gas company’s stock valued at $1,720,000 after buying an additional 9,500 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in shares of Sunoco during the 3rd quarter valued at $777,000. International Assets Investment Management LLC lifted its stake in shares of Sunoco by 6,075.4% during the 4th quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock valued at $34,419,000 after buying an additional 565,015 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its stake in shares of Sunoco by 56.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 350,787 shares of the oil and gas company’s stock valued at $17,171,000 after buying an additional 126,626 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Wells Fargo & Company lifted their target price on shares of Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 20th. Raymond James lifted their target price on shares of Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Citigroup downgraded shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Sunoco currently has an average rating of “Hold” and an average price target of $62.71.

Sunoco Price Performance

Shares of Sunoco stock traded down $0.25 during trading hours on Wednesday, reaching $56.39. The company’s stock had a trading volume of 323,659 shares, compared to its average volume of 462,598. The firm has a 50 day moving average price of $59.83 and a 200-day moving average price of $57.12. Sunoco LP has a one year low of $41.95 and a one year high of $64.89. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.40 and a quick ratio of 0.76. The stock has a market cap of $5.69 billion, a P/E ratio of 15.49 and a beta of 1.27.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.46). Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The business had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts predict that Sunoco LP will post 4.99 EPS for the current year.

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were issued a dividend of $0.842 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $3.37 annualized dividend and a yield of 5.97%. Sunoco’s payout ratio is 92.31%.

Insider Activity at Sunoco

In other news, Director David K. Skidmore purchased 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $52.10 per share, for a total transaction of $78,150.00. Following the acquisition, the director now owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.