SunocoCorp (NYSE:SUNC) Hits New 52-Week High – Here’s Why

SunocoCorp LLC (NYSE:SUNC)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $74.56 and last traded at $74.43, with a volume of 691 shares trading hands. The stock had previously closed at $74.45.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price target on shares of SunocoCorp from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Citigroup lifted their target price on shares of SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Raymond James Financial reissued a “strong-buy” rating and set a $80.00 target price on shares of SunocoCorp in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded shares of SunocoCorp from a “strong sell” rating to a “hold” rating in a research report on Friday, June 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $77.00.

SunocoCorp Stock Performance

The firm has a market capitalization of $3.87 billion and a price-to-earnings ratio of 35.28. The stock has a 50 day moving average of $68.04. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 1.67.

SunocoCorp (NYSE:SUNC) last posted its quarterly 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 company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.56 billion. Equities research analysts expect that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $0.9899 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a yield of 5.3%. SunocoCorp’s payout ratio is 185.92%.

Institutional Trading of SunocoCorp

A number of hedge funds and other institutional investors have recently modified their holdings of SUNC. Caitong International Asset Management Co. Ltd purchased a new position in shares of SunocoCorp during the 4th quarter worth $43,000. Deutsche Bank AG acquired a new position in shares of SunocoCorp during the 4th quarter valued at about $92,000. SG Americas Securities LLC purchased a new stake in shares of SunocoCorp in the first quarter valued at about $112,000. Danske Bank A S purchased a new stake in shares of SunocoCorp in the fourth quarter valued at about $133,000. Finally, State of Wyoming acquired a new stake in SunocoCorp during the first quarter worth about $164,000.

About SunocoCorp

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