F&V Capital Management LLC Boosts Stock Position in Sunoco LP (NYSE:SUN)

F&V Capital Management LLC lifted its holdings in shares of Sunoco LP (NYSE:SUN) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,250 shares of the oil and gas company’s stock after purchasing an additional 750 shares during the period. F&V Capital Management LLC’s holdings in Sunoco were worth $497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Good Life Advisors LLC boosted its holdings in shares of Sunoco by 2.1% in the fourth quarter. Good Life Advisors LLC now owns 8,173 shares of the oil and gas company’s stock worth $490,000 after acquiring an additional 166 shares during the period. Brookstone Capital Management increased its position in shares of Sunoco by 1.9% during the fourth quarter. Brookstone Capital Management now owns 10,013 shares of the oil and gas company’s stock valued at $600,000 after buying an additional 184 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Sunoco by 3.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company’s stock worth $574,000 after buying an additional 283 shares in the last quarter. XML Financial LLC grew its stake in Sunoco by 1.3% during the fourth quarter. XML Financial LLC now owns 24,779 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 329 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in Sunoco during the fourth quarter valued at approximately $27,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Trading Up 0.3 %

Shares of SUN traded up $0.18 during trading hours on Wednesday, hitting $56.75. The company had a trading volume of 726,404 shares, compared to its average volume of 586,724. Sunoco LP has a 52-week low of $43.00 and a 52-week high of $64.89. The company has a quick ratio of 1.07, a current ratio of 1.65 and a debt-to-equity ratio of 3.39. The stock’s 50 day moving average price is $53.86 and its 200 day moving average price is $57.55. The firm has a market cap of $5.72 billion, a P/E ratio of 12.64 and a beta of 1.29.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The business had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. On average, research analysts predict that Sunoco LP will post 6.09 EPS for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a $0.876 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.50 annualized dividend and a yield of 6.17%. This is a boost from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s dividend payout ratio (DPR) is 77.95%.

Analyst Ratings Changes

Several research firms have recently weighed in on SUN. JPMorgan Chase & Co. started coverage on shares of Sunoco in a report on Wednesday, June 5th. They issued an “overweight” rating and a $61.00 price target on the stock. Stifel Nicolaus upgraded Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Friday, June 7th. Mizuho raised shares of Sunoco from a “neutral” rating to a “buy” rating and lowered their target price for the company from $60.00 to $59.00 in a research note on Tuesday, June 4th. Citigroup raised shares of Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, June 18th. Finally, StockNews.com raised shares of Sunoco from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Insider Transactions at Sunoco

In other Sunoco news, EVP Austin Harkness purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price of $49.74 per share, with a total value of $49,740.00. Following the completion of the purchase, the executive vice president now directly owns 83,686 shares of the company’s stock, valued at approximately $4,162,541.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Joseph Kim purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of $50.50 per share, with a total value of $252,500.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at $505,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Austin Harkness acquired 1,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were purchased at an average cost of $49.74 per share, for a total transaction of $49,740.00. Following the completion of the transaction, the executive vice president now owns 83,686 shares in the company, valued at approximately $4,162,541.64. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 9,500 shares of company stock worth $479,570.

Sunoco Profile

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.