Norges Bank Makes New $74.70 Million Investment in SunocoCorp LLC $SUNC

Norges Bank acquired a new position in SunocoCorp LLC (NYSE:SUNC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,515,745 shares of the company’s stock, valued at approximately $74,696,000.

A number of other institutional investors have also added to or reduced their stakes in SUNC. Danske Bank A S bought a new stake in SunocoCorp in the 4th quarter worth about $133,000. Northwestern Mutual Wealth Management Co. bought a new stake in SunocoCorp in the 4th quarter worth about $312,000. Gabelli Funds LLC bought a new stake in SunocoCorp in the 4th quarter worth about $320,000. Pictet Asset Management Holding SA bought a new stake in SunocoCorp in the 4th quarter worth about $327,000. Finally, Arizona State Retirement System bought a new stake in SunocoCorp in the 4th quarter worth about $571,000.

SunocoCorp Stock Performance

SUNC opened at $66.77 on Friday. SunocoCorp LLC has a twelve month low of $47.00 and a twelve month high of $73.24. The company has a 50-day moving average of $65.24.

SunocoCorp (NYSE:SUNC) last released its earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.47. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.56 billion. As a group, research analysts anticipate that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $0.9899 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Friday, May 8th.

Analysts Set New Price Targets

SUNC has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of SunocoCorp to a “hold” rating in a research report on Saturday, February 28th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 price objective on shares of SunocoCorp in a research report on Wednesday, May 6th. Citigroup upped their price objective on shares of SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Zacks Research downgraded shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Finally, Barclays upped their price objective on shares of SunocoCorp from $63.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.33.

About SunocoCorp

Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.