Sunoco (SUN) Debt Trading 0.8% Lower

An issue of Sunoco LP (NYSE:SUN) bonds fell 0.8% against their face value during trading on Tuesday. The debt issue has a 5.875% coupon and is set to mature on March 15, 2028. The bonds in the issue are now trading at $93.75 and were trading at $95.00 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

A number of analysts have recently issued reports on the stock. ValuEngine cut shares of Sunoco from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Barclays dropped their target price on shares of Sunoco from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, April 4th. Zacks Investment Research upgraded shares of Sunoco from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. TheStreet lowered shares of Sunoco from a “b-” rating to a “c” rating in a research report on Thursday, May 10th. Finally, Citigroup dropped their target price on shares of Sunoco from $31.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, March 27th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $31.37.

Sunoco opened at $25.14 on Thursday, MarketBeat Ratings reports. Sunoco LP has a 52 week low of $24.46 and a 52 week high of $33.11. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.90 and a quick ratio of 0.58. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 10.98 and a beta of 0.66.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, May 9th. The oil and gas company reported ($3.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($4.31). Sunoco had a negative net margin of 1.32% and a positive return on equity of 21.37%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business earned ($0.22) EPS. Sunoco’s revenue for the quarter was up 33.5% compared to the same quarter last year. research analysts anticipate that Sunoco LP will post 2.23 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in Sunoco by 268.3% during the fourth quarter. Wells Fargo & Company MN now owns 169,876 shares of the oil and gas company’s stock valued at $4,825,000 after purchasing an additional 123,748 shares during the last quarter. Koch Industries Inc. bought a new position in Sunoco during the fourth quarter valued at $517,000. Virtu Financial LLC bought a new position in Sunoco during the fourth quarter valued at $353,000. Goldman Sachs Group Inc. lifted its position in Sunoco by 28.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,253,931 shares of the oil and gas company’s stock valued at $64,011,000 after purchasing an additional 495,187 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Sunoco by 11.8% during the fourth quarter. Clearbridge Investments LLC now owns 494,900 shares of the oil and gas company’s stock valued at $14,055,000 after purchasing an additional 52,050 shares during the last quarter. Institutional investors and hedge funds own 29.72% of the company’s stock.

About Sunoco

Sunoco LP, together with its subsidiaries, engages in the wholesale distribution and retail sale of motor fuels primarily in the United States. The company operates through two segments, Wholesale and Retail. It serves convenience stores and commission agent locations, contracted independent convenience store operators, and other commercial customers.

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