Could Sunoco LP Change Direction After Today’s Bullish Options Activity?

 Could Sunoco LP Change Direction After Today's Bullish Options Activity?

In today’s session Sunoco LP (SUN) registered an unusually high (237) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious SUN increase. With 237 contracts traded and 4074 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: SUN161216C00027500 closed last at: $0.65 or 13.3% down. About 268,510 shares traded hands. Sunoco LP (NYSE:SUN) has declined 17.42% since April 5, 2016 and is downtrending. It has underperformed by 19.38% the S&P500.

Sunoco LP (NYSE:SUN) Ratings Coverage

Out of 13 analysts covering Sunoco Inc. (NYSE:SUN), 4 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 31% are positive. $57 is the highest target while $23 is the lowest. The $35.70 average target is 37.10% above today’s ($26.04) stock price. Sunoco Inc. has been the topic of 28 analyst reports since July 24, 2015 according to StockzIntelligence Inc. FBR Capital initiated the shares of SUN in a report on Friday, September 9 with “Mkt Perform” rating. The stock of Sunoco LP (NYSE:SUN) earned “Underperform” rating by Jefferies on Wednesday, June 8. Barclays Capital maintained the shares of SUN in a report on Thursday, June 16 with “Equalweight” rating. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, May 11. The company was initiated on Friday, September 23 by Citigroup. The firm earned “Overweight” rating on Friday, April 15 by JP Morgan. The firm has “Equal-Weight” rating by Morgan Stanley given on Monday, August 15. The stock of Sunoco LP (NYSE:SUN) earned “Buy” rating by UBS on Thursday, August 4. The stock has “Outperform” rating given by Credit Suisse on Thursday, November 19. Credit Suisse downgraded the shares of SUN in a report on Tuesday, April 19 to “Neutral” rating.

According to Zacks Investment Research, “Sunoco LP operates as a wholesale fuel distributor. It engages in distributing motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Company also operates convenience stores and retail fuel sites. Sunoco LP, formerly known as Susser Petroleum Partners LP, is based in Houston, Texas.”

Insitutional Activity: The institutional sentiment increased to 1.11 in 2016 Q2. Its up 0.03, from 1.08 in 2016Q1. The ratio increased, as 17 funds sold all Sunoco LP shares owned while 28 reduced positions. 23 funds bought stakes while 27 increased positions. They now own 38.18 million shares or 20.58% more from 31.67 million shares in 2016Q1.
Gabelli Funds Lc holds 0.01% of its portfolio in Sunoco LP (NYSE:SUN) for 60,000 shares. Citigroup holds 0.17% or 5.50M shares in its portfolio. Cypress Asset Inc Tx accumulated 17,344 shares or 0.1% of the stock. Us Fincl Bank De has 818 shares for 0% of their US portfolio. Hudock Capital Gru Limited Liability Company reported 50 shares or 0% of all its holdings. Commonwealth Of Pennsylvania School Empls Retrmt accumulated 0.03% or 58,522 shares. Horizon Kinetics Limited Liability Co owns 25,703 shares or 0.02% of their US portfolio. Moreover, Clinton Gp has 0.12% invested in Sunoco LP (NYSE:SUN) for 88,135 shares. Whittier Trust Of Nevada holds 0% or 100 shares in its portfolio. Wade G W & Inc owns 7,649 shares or 0.04% of their US portfolio. Greenwich Inv last reported 11,300 shares in the company. One Trading Lp accumulated 0% or 1,191 shares. Duff & Phelps Inv Management Co has invested 0.14% of its portfolio in Sunoco LP (NYSE:SUN). Magnetar Finance Limited Liability has 1.28% invested in the company for 2.28M shares. The Illinois-based Advisory Research has invested 0.86% in Sunoco LP (NYSE:SUN).

Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial clients and distributors. The company has a market cap of $2.98 billion. The Firm operates through two divisions: wholesale and retail. It has a 17.17 P/E ratio. The Wholesale activities segment sells motor fuel to its retail segment and external customers.

SUN Company Profile

Sunoco LP, formerly Susser Petroleum Partners LP, incorporated on June 11, 2012, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial clients and distributors. The Firm operates through two divisions: wholesale and retail. The Wholesale activities segment sells motor fuel to its retail segment and external customers. The Retail activities segment operates convenience stores selling a range of merchandise, food items, services and motor fuel. The Firm operates approximately 900 convenience stores and fuel outlets in over eight states, offering merchandise, food service, motor fuel and other services. It distributes approximately 7.6 billion gallons of motor fuel through its convenience stores and consignment locations, contracted independent convenience store operators, and other commercial customers.

More notable recent Sunoco LP (NYSE:SUN) news were published by: Fool.com which released: “Sunoco LP’s Recent Acquistion Shows Its Next Chapter in Growth” on June 27, 2016, also Fool.com with their article: “3 Reasons Sunoco LP Stock Could Rise” published on August 18, 2016, Prnewswire.com published: “Sunoco LP Completes the Acquisition of the Convenience Store and Wholesale …” on October 12, 2016. More interesting news about Sunoco LP (NYSE:SUN) were released by: Prnewswire.com and their article: “Sunoco LP Completes the Acquisition of the Wholesale Fuel Distribution and …” published on August 31, 2016 as well as Prnewswire.com‘s news article titled: “Sunoco LP Maintains Quarterly Distribution” with publication date: October 26, 2016.

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