Sunoco Target of Unusually Large Options Trading (SUN)

Sunoco LP (NYSE:SUN) was the recipient of some unusual options trading on Tuesday. Stock traders purchased 1,845 call options on the stock. This is an increase of 1,147% compared to the typical daily volume of 148 call options.

Shares of SUN opened at $28.85 on Thursday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 12.55 and a beta of 0.79. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.67 and a current ratio of 1.07. Sunoco has a fifty-two week low of $24.46 and a fifty-two week high of $33.11.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, August 8th. The oil and gas company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $3.99 billion. Sunoco had a return on equity of 33.25% and a net margin of 0.86%. The firm’s revenue for the quarter was up 59.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.59) EPS. analysts expect that Sunoco will post 2.3 EPS for the current year.

Several equities analysts recently issued reports on the company. B. Riley set a $32.00 target price on Sunoco and gave the company a “hold” rating in a research report on Monday, June 4th. Jefferies Financial Group raised Sunoco from an “underperform” rating to a “hold” rating and set a $30.00 target price on the stock in a research report on Wednesday, July 18th. TheStreet raised Sunoco from a “c+” rating to a “b-” rating in a research report on Monday. Raymond James reissued a “buy” rating on shares of Sunoco in a research report on Monday, August 13th. Finally, Wells Fargo & Co cut their target price on Sunoco from $30.00 to $29.00 and set a “market perform” rating on the stock in a research report on Thursday, September 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.87.

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA acquired a new stake in Sunoco during the 1st quarter worth about $120,000. Winslow Evans & Crocker Inc. acquired a new stake in Sunoco during the 2nd quarter worth about $190,000. Quad Cities Investment Group LLC acquired a new stake in Sunoco during the 1st quarter worth about $264,000. First Republic Investment Management Inc. acquired a new stake in Sunoco during the 2nd quarter worth about $271,000. Finally, Private Advisor Group LLC acquired a new stake in Sunoco during the 2nd quarter worth about $313,000. 28.60% of the stock is currently owned by institutional investors.

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.

Further Reading: Price to Earnings Ratio (PE)

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