Adams Asset Advisors buys $2,976,406 stake in Sunoco LP (SUN)

Sunoco LP (SUN) : Adams Asset Advisors scooped up 17,070 additional shares in Sunoco LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 105,062 shares of Sunoco LP which is valued at $2,976,406.Sunoco LP makes up approximately 0.41% of Adams Asset Advisors’s portfolio.

Other Hedge Funds, Including , Edge Wealth Management added SUN to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $2,833.Atria Investments reduced its stake in SUN by selling 309 shares or 2.46% in the most recent quarter. The Hedge Fund company now holds 12,247 shares of SUN which is valued at $350,754. Sunoco LP makes up approx 0.03% of Atria Investments’s portfolio. Fox Run Management L.l.c. sold out all of its stake in SUN during the most recent quarter. The investment firm sold 14,500 shares of SUN which is valued $415,280.Simplex Trading reduced its stake in SUN by selling 14,447 shares or 91.61% in the most recent quarter. The Hedge Fund company now holds 1,323 shares of SUN which is valued at $37,547.

Sunoco LP closed down -0.2 points or -0.69% at $28.64 with 3,31,480 shares getting traded on Tuesday. Post opening the session at $28.62, the shares hit an intraday low of $28.46 and an intraday high of $28.76 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Sunoco LP reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Nov 4, 2015. Analyst had a consensus of $0.62. The company had revenue of $4487.30 million for the quarter, compared to analysts expectations of $4078.68 million. The company’s revenue was up 243.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Sunoco LP. Mizuho Initiated Sunoco LP on Sep 30, 2016 to “Neutral”, Price Target of the shares are set at $31.Sunoco LP was Initiated by Citigroup to “Neutral” on Sep 23, 2016. FBR Capital Initiated Sunoco LP on Sep 9, 2016 to “Mkt Perform”, Price Target of the shares are set at $32.

Sunoco LP formerly Susser Petroleum Partners LP is engaged in the fee-based wholesale distribution of motor fuels to Susser and third parties in Texas New Mexico Oklahoma Louisiana Kansas Maryland Virginia Tennessee Georgia and Hawaii. The Company is also engaged in the retail sale of motor fuel and the operation of convenience stores through its subsidiaries. It operates in two segments: Wholesale operations segment which sells motor fuel to its retail segment and external customers and Retail operations segment which operates convenience stores selling a variety of merchandise food items services and motor fuel. It operates through its subsidiaries: Susser Petroleum Operating Company LLC T&C Wholesale LLC Susser Energy Services LLC Susser Petroleum Property Company LLC Southside Oil LLC and Aloha Petroleum Ltd among others. It distributes motor fuel under the Chevron Citgo Conoco Exxon Mobil Phillips66 Shamrock Texaco and Mahalo brands among others.

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