Sunoco (NYSE:SUN) Posts Quarterly Earnings, Beats Expectations with $2.62 EPS

Sunoco (NYSE:SUN – Get Free Report ) announced its quarterly earnings results on Wednesday. The oil and gas company reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $2.62, RTT News reports. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $5.63 billion. In the same period last year, the company earned $0.78 per share. The company’s revenue increased by 7.5% year-on-year.

Sunoco trades down 4.0%

NYSE SUN opened at $50.79 on Friday. The company’s fifty day moving average price is $55.05 and its 200 day moving average price is $56.92. Sunoco has a 12-month low of $43.85 and a 12-month high of $64.89. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65, and a quick ratio of 1.07. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 11.31 and a beta of 1.31.

Sunoco cuts dividends

The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be given a $0.8756 dividend. The ex-dividend date is Friday, August 9. This represents an annualized dividend of $3.50 and a yield of 6.90%. Sunoco’s dividend payout ratio is currently 77.95%.

Insider buying and selling

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 purchased at an average price of $49.74 per share, for a total transaction of $49,740.00. Following the purchase, the executive vice president now directly owns 83,686 shares in the company, valued at $4,162,541.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other news, EVP Brian A. Hand acquired 2,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $49.59 per share, for a total transaction of $99,180.00. Following the transaction, the executive vice president now owns 153,255 shares in the company, valued at $7,599,915.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, EVP Austin Harkness acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $49.74 per share, for a total transaction of $49,740.00. Following the completion of the purchase, the executive vice president now owns 83,686 shares of the company’s stock, valued at $4,162,541.64. Disclosure for this purchase can be found here. Insiders bought 8,000 shares of company stock worth $401,420 in the last quarter.

Analysts on Wall Street are forecasting an increase

A number of research analysts recently commented on the company. Stifel Nicolaus raised Sunoco from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Friday, June 7th. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday. Mizuho upgraded shares of Sunoco from a “neutral” rating to a “buy” rating and cut their price target for the company from $60.00 to $59.00 in a research note on Tuesday, June 4th. Barclays cut their price target on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Citigroup upgraded Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.86.

Read our latest research report on Sunoco

About Sunoco

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Sunoco LP, together with its subsidiaries, distributes and markets motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing and All Others. The Fuel Distribution and Marketing segment purchases motor fuel and 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 non-branded retail stores, other fuel distributors, school districts, municipalities and other industrial customers.

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