Ovata Capital Management Ltd Makes New Investment in SunocoCorp LLC $SUNC

Ovata Capital Management Ltd purchased a new position in shares of SunocoCorp LLC (NYSE:SUNC) during the 4th quarter, Holdings Channel reports. The fund purchased 52,200 shares of the company’s stock, valued at approximately $2,572,000. SunocoCorp makes up approximately 0.5% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 26th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new stake in SunocoCorp during the 4th quarter worth about $126,936,000. Norges Bank bought a new stake in SunocoCorp during the 4th quarter worth about $74,696,000. QV Investors Inc. bought a new stake in shares of SunocoCorp in the 4th quarter valued at about $58,528,000. UBS Group AG bought a new stake in shares of SunocoCorp in the 4th quarter valued at about $49,908,000. Finally, iA Global Asset Management Inc. bought a new stake in shares of SunocoCorp in the 4th quarter valued at about $30,104,000.

Wall Street Analysts Forecast Growth

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

SunocoCorp Trading Up 0.7%

Shares of SUNC stock opened at $67.39 on Friday. The firm has a 50-day moving average price of $65.15. SunocoCorp LLC has a 52-week low of $47.00 and a 52-week high of $73.24.

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

SunocoCorp Dividend Announcement

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

SunocoCorp Profile

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