Analysis: Sunoco Inc (NYSE:SUN) Target Change Today
In a very recent research note sent to investors and clients by Jefferies & Co on Friday morning, the firm, Sunoco Inc (NYSE:SUN), had their price target downgraded to $50.00. Analusts at present have a solid Buy rating on the stock.
From a total of 14 analysts covering Sunoco Inc. (NYSE:SUN) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $60 while the lowest target price is $35. The mean of all analyst targets is $48 with a 36.49% above today’s ($35.46) stock price. Sunoco Inc. was the topic of 13 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 24 with “Outperform” rating. Evercore initiated SUN stock in a recent report from October 27 with “Hold” rating.
Approximately 370,198 shares of stock traded hands. Sunoco LP (NYSE:SUN) has declined 26.15% since May 15, 2015 and is downtrending. It has underperformed by 22.35% the S&P500.
The overall sentiment of institutions has increased to 1.36 in Q2 2015. Its up 0.49, from 0.87 in 2015Q2. The ratio increased, as 22 institutions have sold all the shares of Sunoco LP that they owned while 20 funds have taken shares off the table. 25 funds have purchased shares for the first time while 32 added to their positions. These institutions now hold 19.47 million shares or 40.83% more than the 13.82 million shares they owned in 2015Q2.
The Fund Cheyne Capital Management (Uk) Llp currently is holding shares equating to 16.95% of its total portfolio in Sunoco LP representing a total of 368,500 shares. Another fund,Samson Capital Management Llc, is holding a total of 174,606 shares equating to 4.37% of their holdings. Additionally, Wexford Capital Lp has a 407,275 share stake in Sunoco LP which represents 2.67% of their total portfolio. The Fund, Tph Asset Management Llc, based out of Texas, has also built up a stake in the stock, which represents a total of 1.81% of their total portfolio. Finally Friedberg Investment Management, a fund which is based in the state of Texas reported a total holdings of 89,140 shares.
Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the fee wholesale distribution of motor fuels to Susser and third parties in Texas, New Mexico, Oklahoma, Louisiana, Kansas, Maryland, Virginia, Tennessee, Georgia and Hawaii. The company has a market cap of $2.72 billion. The Firm is also engaged in the retail sale of motor fuel and the operation of convenience stores through its subsidiaries. It has 15.73 P/E ratio. It operates in two divisions: Wholesale activities segment, which sells motor fuel to its retail segment and external customers, and Retail activities segment, which operates convenience stores selling a variety of merchandise, food items, services and motor fuel.
According to Zacks Investment Research, “Sunoco LP operates as a wholesale fuel distributor. It engages in distributing motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Company also operates convenience stores and retail fuel sites. Sunoco LP, formerly known as Susser Petroleum Partners LP, is based in Houston, Texas.”