Sunoco LP (SUN) Position Boosted by Adams Asset Advisors LLC

Adams Asset Advisors LLC increased its stake in Sunoco LP (NYSE:SUN) by 10.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,062 shares of the oil and gas company’s stock after acquiring an additional 23,383 shares during the quarter. Sunoco comprises 0.7% of Adams Asset Advisors LLC’s holdings, making the stock its 24th largest holding. Adams Asset Advisors LLC owned about 0.25% of Sunoco worth $6,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Sunoco by 6,579.2% in the first quarter. BlackRock Inc. now owns 677,603 shares of the oil and gas company’s stock valued at $17,285,000 after buying an additional 667,458 shares during the period. Deutsche Bank AG lifted its stake in Sunoco by 168.9% in the fourth quarter. Deutsche Bank AG now owns 913,280 shares of the oil and gas company’s stock valued at $25,937,000 after buying an additional 573,698 shares during the period. Goldman Sachs Group Inc. lifted its stake in Sunoco by 28.2% in 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 buying an additional 495,187 shares during the period. Renaissance Technologies LLC acquired a new position in Sunoco in the fourth quarter valued at approximately $8,553,000. Finally, Wells Fargo & Company MN lifted its stake in Sunoco by 268.3% in 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 buying an additional 123,748 shares during the period. 29.72% of the stock is currently owned by institutional investors.

Shares of Sunoco traded down $0.02, reaching $25.13, during trading on Wednesday, MarketBeat reports. 258,053 shares of the stock were exchanged, compared to its average volume of 420,493. The company has a quick ratio of 0.58, a current ratio of 0.90 and a debt-to-equity ratio of 2.45. Sunoco LP has a 1-year low of $24.46 and a 1-year high of $33.11. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 11.01 and a beta of 0.66.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, May 9th. The oil and gas company reported ($3.74) earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($4.31). Sunoco had a positive return on equity of 21.37% and a negative net margin of 1.32%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the company earned ($0.22) earnings per share. Sunoco’s revenue for the quarter was up 33.5% compared to the same quarter last year. equities research analysts anticipate that Sunoco LP will post 2.08 earnings per share for the current fiscal year.

Several equities analysts have issued reports on SUN shares. TheStreet lowered Sunoco from a “b-” rating to a “c” rating in a research note on Thursday, May 10th. Zacks Investment Research raised Sunoco from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. B. Riley set a $32.00 price target on Sunoco and gave the company a “hold” rating in a research note on Monday, June 4th. Citigroup dropped their price target on Sunoco from $31.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 27th. Finally, Barclays dropped their price target on Sunoco from $37.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 4th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.37.

Sunoco Company Profile

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.

Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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