Mizuho Issues Pessimistic Forecast for Sunoco (NYSE:SUN) Stock Price

Sunoco (NYSE:SUN) had its price target dropped by equities research analysts at Mizuho from $68.00 to $67.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s price objective suggests a potential upside of 26.27% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Barclays dropped their price objective on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Sunoco presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.50.

Sunoco Price Performance

Shares of SUN stock traded down $0.47 on Monday, reaching $53.06. The company had a trading volume of 26,188 shares, compared to its average volume of 438,943. The business’s 50-day moving average is $54.28 and its 200 day moving average is $55.50. The stock has a market capitalization of $8.10 billion, a PE ratio of 9.56 and a beta of 0.61. Sunoco has a one year low of $48.00 and a one year high of $59.88. The company has a quick ratio of 0.86, a current ratio of 1.55 and a debt-to-equity ratio of 1.85.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.48). The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.58 billion. Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.26 EPS. Equities research analysts forecast that Sunoco will post 10.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in Sunoco during the 4th quarter worth approximately $31,000. Steward Partners Investment Advisory LLC grew its position in shares of Sunoco by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock worth $64,000 after buying an additional 182 shares during the period. Transce3nd LLC acquired a new stake in shares of Sunoco during the 4th quarter worth approximately $90,000. Huntington National Bank grew its position in shares of Sunoco by 440.3% during the 4th quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company’s stock worth $92,000 after buying an additional 1,453 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Sunoco during the 4th quarter worth approximately $102,000. Institutional investors own 24.29% of the company’s stock.

About Sunoco

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.