SUN - SUN

Short interest for Sunoco gives investors a sense of the degree to which investors are betting on the decline of Sunoco's stock. Short interest data is updated every two weeks.

Sunoco Stock (NYSE:SUN), Short Interest Report

Sunoco

Sunoco LP engaged in the distribution of motor fuels to independent dealers, distributors, and other commercial customers as well as the distribution of motor fuels to end-use customers at retail sites operated by commission agents. It is a growth-oriented master limited partnership (MLP) that operates as a wholesale and retail fuel distributor in the United States. The firm operates through the Fuel Distribution and Marketing segment. It distributes motor fuel to convenience stores, dealers, and commercial customers in various states. The operating convenience stores are under the APlus, Stripes, Aloha Island Mart, and Tigermarket brands.

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Petrobras (NYSE: PBR), the renowned Brazilian state-run oil and gas company, has recently unveiled its ambitious plans to boost its sustainable energy portfolio.

Petrobras to Build Solar Power at Its Three Refineries

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Long Ideas

Insider Trades

HROW

Over $24M Bet On RXO? Check Out These 3 Stocks Insiders Are Buying

Chevron Corporation (NYSE: CVX), a global energy company, has launched its third Future Energy Fund through its venture arm, Chevron Technology Ventures L.L.C., demonstrating its commitment to innovation and sustainability.

Chevron Creates $500M Fund to Invest in Clean Energy

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A Chinese industrial association has published a list of 76 models of intelligent connected vehicles that meet the country's auto data security requirements, including those from BYD and Tesla.
The list was released after security tests jointly conducted by the China Association of Automobile Manufacturers and the National Computer Network Emergency Response Technical Team/Coordination Center of China. Models from Li Auto, Lotus, Hozon New Energy Automobile, and NIO were also on the list.
In tests starting in November 2023, cars were assessed to see if they met four compliance requirements -- the anonymization of facial and other information from outside the car, the default non-collection of in-car data, the in-car data processing, and the conspicuous notification of personal information processing.
The tests were carried out according to related laws and standards, and the carmakers submitted their models on a voluntary basis, according to the association.
The association said the test aims to help regulate auto data processing, protect the rights of car users, and build a sound environment for auto data security and the industry.

Global

BYDDF

TSLA

"China Publishes List Of Intelligent Cars Compliant With Data Security Requirements, Tesla Included" - Xinhua

Petrobras (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbr#NYSE">PBR</a>), the renowned Brazilian state-run oil and gas company, has recently unveiled its ambitious plans to boost its sustainable energy portfolio.
This strategic move involves the potential installation of 48 megawatts&nbsp;of solar energy capacity across three of its refineries. Such a significant leap toward renewable energy integration not only highlights Petrobras&#39; commitment to environmental sustainability but also positions it as a frontrunner in the global energy transition.
<h3>Advancing Toward Decarbonization</h3>
The decision to use solar power aligns seamlessly with Petrobras&#39; overarching vision for decarbonization. By leveraging the photovoltaic (PV) technology, the company aims to mitigate its carbon footprint while boosting operational efficiency. These PV projects are set to begin power generation operations by 2025 and will be strategically situated at the following refineries:
Gabriel Passos (Regap) Refinery: The Gabriel Passos Refinery (Regap) is a petroleum refinery located in Betim, Minas Gerais, Brazil. Regap is the largest refinery in Minas Gerais and the third largest in Brazil. It has a processing capacity of 24,000 cubic meters per day (150,000 barrels per day) and produces a wide range of petroleum products, including gasoline, diesel, jet fuel, liquefied petroleum gas&nbsp;and petrochemicals.
Abreu e Lima (Rnest) Refinery: The Abreu e Lima Refinery (Rnest) is a petroleum refinery located in Abreu e Lima, Pernambuco, Brazil. Rnest is the second-largest refinery in Brazil, with a processing capacity of 360,000 barrels per day. It produces many petroleum products, including gasoline, diesel, jet fuel, LPG and petrochemicals.
Paulinia (Replan) Refinery: The Paulinia Refinery (Replan) is a petroleum refinery located in Paul&iacute;nia, S&atilde;o Paulo, Brazil. Replan is the fourth largest refinery in Brazil, with a processing capacity of 325,000 barrels per day. It also produces petroleum products, including gasoline, diesel, jet fuel, LPG and petrochemicals.
<h3>Strategic Implications</h3>
Enhanced Integration and Operational Reliability: The integration of photovoltaic plants into refinery operations not only facilitates improved integration but also enhances operational reliability. Petrobras aims to strengthen its operational resilience by diversifying its energy mix.
Mitigation of Greenhouse Gas Emissions:&nbsp;One of the primary drivers behind Petrobras&#39; foray into solar energy is the company&#39;s commitment to mitigating greenhouse gas emissions. By transitioning toward renewable energy sources, the company seeks to curtail its environmental impact, thereby contributing to global efforts aimed at combating climate change.
Solar Initiative:&nbsp;Petrobras&#39; strategic investment in solar energy highlights its solid commitment to energy transition. By prioritizing sustainability alongside profitability, the company aims to spearhead a paradigm shift within the energy sector, setting a precedent for other industry players to emulate.
<h3>Decarbonization Fund: A Catalyst for Change</h3>
The implementation of these solar energy projects is expected to happen through Petrobras&#39; Decarbonization Fund. This fund, boasting a substantial budget of $1 billion for the 2024-2028 period, serves as a catalyst for transformative change within the organization. By allocating financial resources toward sustainable initiatives, Petrobras reaffirms its commitment to environmental stewardship and corporate responsibility.
<h3>Portfolio Diversification</h3>
Offsetting Carbon Emissions: The three solar projects, set for implementation, are part of a broader portfolio, including 33 schemes financed by the Decarbonization Fund. Collectively, these initiatives are projected to offset 1.52 million tons of carbon dioxide (CO2) emissions annually, a feat equivalent to neutralizing the carbon footprint of an entire refinery.
Long-Term Sustainability:&nbsp;Petrobras aims to promote long-term sustainability by diversifying its energy portfolio and embracing renewable energy solutions, while also future-proofing its operations against changing regulatory landscapes and market dynamics.
<h3>Conclusion</h3>
Petrobras&#39; announcement regarding the installation of 48 MW of solar energy capacity at three of its refineries marks a milestone in the company&#39;s journey toward decarbonization and sustainability. By leveraging solar power to drive operational efficiency and mitigate greenhouse gas emissions, Petrobras reaffirms its position as a leader in the global energy transition.
As the company continues to prioritize sustainability alongside profitability, it sets a commendable example for its peers within the energy sector, laying the groundwork for a greener and more sustainable future.
Zacks Rank and Key Picks
Currently, PBR carries a Zacks Rank #3 (Hold).&nbsp;&nbsp;
Investors interested in the energy sector might look at some better-ranked stocks like Murphy USA Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/musa#NYSE">MUSA</a>) and Archrock, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aroc#NYSE">AROC</a>), each sporting a Zacks #1 Rank (Strong Buy), and Sunoco LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>), carrying a Zacks #2 Rank (Buy) at present.
Murphy USA is valued at approximately $8.68 billion. In the past year, the company&#39;s shares have surged 49.9%.
MUSA markets retail motor fuel products and convenience merchandise, operating retail stores under the brands Murphy USA, Murphy Express and QuickChek.
Archrock is valued at $3.04 billion. The company currently pays a dividend of 66 cents per share, or 3.4%, on an annual basis.
AROC, together with its subsidiaries, works as an energy infrastructure company in the United States. The company operates under two segments &mdash; Contract Operations and Aftermarket Services.
Sunoco is valued at $5.6 billion. It is a major wholesale motor fuel distributor in the United States, distributing over 10 fuel brands through long-term contracts with more than 10,000 convenience stores, thereby ensuring consistent cash flow.
SUN&#39;s extensive distribution network across 40 states provides a robust and reliable source of income, and the Brownsville terminal expansion should add to its revenue diversification.
<a href="https://www.zacks.com/stock/news/2260325/petrobras-pbr-to-build-solar-power-at-its-three-refineries?cid=CS-BENZ-FT-analyst_blog|company_news_-_energy_sector-2260325">To read this article on Zacks.com click here.</a>

Although U.S. stocks closed mixed on Friday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out &lt;a href=&#8221;https://www.benzinga.com/sec/insider-trades/&#8221;&gt;&lt;em&gt; Benzinga&#8217;s insider transactions &lt;/em&gt;&lt;/a&gt; platform.
<h3 class="wp-block-heading">RXO</h3>
<ul>
<li>The Trade: RXO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RXO#NYSE">RXO</a>) 10% owner Farhad Nanji <a href="https://www.benzinga.com/quote/RXO/analyst-ratings">acquired a total of 1,245,690 shares</a> at an average price of $19.51. To acquire these shares, it cost around $24.3 million.</li>
<li>What's Happening: RXO said it will issue its first-quarter financial results before the opening bell on May 2, 2024.</li>
<li>What RXO Does: RXO Inc is a brokered transportation platform defined by cutting-edge technology and a nimble, asset-light business model, with the largest component being core truck brokerage business.</li>
</ul>
<h3 class="wp-block-heading">Harrow</h3>
<ul>
<li>The Trade: Harrow, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HROW#NASDAQ">HROW</a>) 10% owner Opaleye Management Inc. acquired a total of 29,400 shares at an average price of $10.56. To acquire these shares, it cost around $310,391.</li>
<li>What's Happening: On April 11, Craig-Hallum initiated coverage on Harrow with a Buy rating and announced a price target of $24.</li>
<li>What Harrow Does: Harrow Inc is an eyecare pharmaceutical company engaged in the discovery, development, and commercialization of ophthalmic pharmaceutical products for the U.S. market.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
<h3 class="wp-block-heading">Sunoco</h3>
<ul>
<li>The Trade: Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) Director David K Skidmore <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 1,500 shares </a> at an average price of $52.10. To acquire these shares, it cost around $78,144.</li>
<li>What's Happening: Sunoco, last week, completed the acquisition of liquid fuels terminals from Zenith Energy and the divestiture of 204 Convenience stores to 7-eleven.</li>
<li>What Sunoco Does: Sunoco LP engaged in the distribution of motor fuels to independent dealers, distributors, and other commercial customers as well as the distribution of motor fuels to end-use customers at retail sites operated by commission agents.</li>
</ul>
Read More: <a href="https://www.benzinga.com/markets/equities/24/04/38351057/investor-sentiment-edges-lower-s-p-500-falls-for-sixth-straight-day">Investor Sentiment Edges Lower, S&amp;P 500 Falls For Sixth Straight Day</a>

WIIM

Sunoco shares are trading higher after the company completed the acquisition of liquid fuels terminals from Zenith Energy and the divestiture of 204 Convenience stores to 7-eleven.

Chevron Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>), a global energy company, has launched its third Future Energy Fund through its venture arm, Chevron Technology Ventures L.L.C., demonstrating its commitment to innovation and sustainability. With an astounding commitment of $500 million, this fund marks a milestone in Chevron&#39;s journey toward investing in clean energy technologies. This latest fund builds on the success of two previous iterations, which have already supported more than 30 companies in the clean tech space. Let&#39;s delve into the details of this exciting venture and its implications for the future of energy.
<h3>Exploring the Future Energy Fund III</h3>
Unveiling Chevron&#39;s Vision: The Future Energy Fund III represents Chevron&#39;s forward-thinking approach, enabling the company to anticipate industry trends and invest in cutting-edge technologies. By allocating resources to areas such as fusion, direct air capture and batteries, CVX aims to stay at the forefront of innovation in the energy sector. This strategic move highlights the company&#39;s commitment to exploring new horizons and embracing sustainability.
Driving Innovation in Clean Energy: Chevron&#39;s decision to focus on clean energy technologies reflects a broader trend within the industry. As the world increasingly prioritizes environmental sustainability, oil firms are diversifying their portfolios to include renewable energy solutions. By investing in biofuels, wind, solar, carbon capture and electric vehicles, Chevron is not only reducing its carbon footprint but also positioning itself as a leader in the transition to clean energy.
<h3>Building on Past Accomplishments</h3>
A Legacy of Innovation: The launch of Future Energy Fund III followed the success of Chevron&#39;s previous ventures in clean tech investment. The company&#39;s track record in this area, demonstrated by the success of its preceding funds, highlights Chevron&#39;s commitment to driving a positive change in the energy landscape. With each new fund, Chevron reinforces its position as a key player in the quest for sustainable energy solutions.
Expanding Investment Horizons: Chevron Technology Ventures, the venture arm responsible for managing the Future Energy Fund III, remains dedicated to expanding its investment portfolio. By partnering with innovative startups and established companies alike, Chevron aims to foster collaboration and accelerate the development of groundbreaking technologies. This approach not only benefits CVX but also contributes to the growth and advancement of the clean energy sector as a whole.
<h3>What Lies Ahead?</h3>
A Visionary Outlook: With the launch of Future Energy Fund III, Chevron reaffirms its commitment to shaping the future of energy. By investing in technologies that have the potential to revolutionize the industry, Chevron demonstrates its willingness to embrace change and lead by example. With the increasing global demand for clean energy, the company is well-positioned to drive global innovation and sustainability.
Embracing Sustainability: At its core, the Future Energy Fund III exemplifies Chevron&#39;s commitment to sustainability and environmental responsibility. By investing in low-carbon fuels and carbon transformation technologies, the company seeks to mitigate its environmental impact while unlocking new opportunities for growth. Chevron is working to create a more sustainable and prosperous future through strategic investments and partnerships.
<h3>Conclusion</h3>
CVX&#39;s launch of the Future Energy Fund III marks a milestone in the company&#39;s journey toward a more sustainable future. By investing $500 million in clean energy technologies, the company demonstrates its commitment to innovation and environmental stewardship. As the energy landscape continues to develop, Chevron remains at the forefront of driving positive change and shaping the future of energy. With the Future Energy Fund III, it sets a bold precedent for the industry and reaffirms its position as a leader in sustainable energy solutions.
<h3>Zacks Rank and Key Picks</h3>
Currently, CVX carries a Zacks Rank #3 (Hold).&nbsp;&nbsp;
Investors interested in the energy sector might look at some better-ranked stocks like Murphy USA Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/musa#NYSE">MUSA</a>) and Archrock, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aroc#NYSE">AROC</a>), each sporting a Zacks #1 Rank (Strong Buy), and Sunoco LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>), carrying a Zacks #2 Rank (Buy) at present.
Murphy USA is valued at approximately $8.65 billion. In the past year, the company&#39;s shares have surged 53.4%.
MUSA markets retail motor fuel products and convenience merchandise, operating retail stores under the brands Murphy USA, Murphy Express and QuickChek.
Archrock is valued at $3.11 billion. The company currently pays a dividend of 66 cents per share, or 3.32%, on an annual basis.
AROC, together with its subsidiaries, works as an energy infrastructure company in the United States. The company operates under two segments &mdash; Contract Operations and Aftermarket Services.
Sunoco is valued at $5.22 billion. It is a major wholesale motor fuel distributor in the United States, distributing over 10 fuel brands through long-term contracts with more than 10,000 convenience stores, thereby ensuring consistent cash flow.
SUN&#39;s extensive distribution network across 40 states provides a robust and reliable source of income, and the Brownsville terminal expansion should add to its revenue diversification.
<a href="https://www.zacks.com/stock/news/2256601/chevron-cvx-creates-500m-fund-to-invest-in-clean-energy?cid=CS-BENZ-FT-analyst_blog|company_news_-_energy_sector-2256601">To read this article on Zacks.com click here.</a>

BP plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>), a global leader in the energy sector, has announced the commencement of oil production from its latest offshore platform, Azeri Central East (&quot;ACE&quot;), located offshore Azerbaijan. This marks the inauguration of BP&#39;s seventh offshore platform at the Azeri-Chirag-Gunashli (&quot;ACG&quot;) field in the Caspian Sea.
The ACG field, which kickstarted its production journey in 1997, has been a pillar in Azerbaijan&#39;s oil industry, contributing more than 4.3 billion barrels of oil to date. However, the country&#39;s oil production has seen a decline since reaching its peak of approximately 1 million barrels per day during 2011-2012.
The ACE project, backed by a $6 billion investment, marks the next stage in the evolution of the ACG field. Positioned strategically at a water depth of 137 meters, the platform is equipped with 48 slots for production, drilling and accommodation, strategically placed between the Central Azeri and East Azeri platforms.
Designed to handle up to 100,000 barrels per day, the ACE platform and its associated infrastructure are poised to play a pivotal role in revitalizing Azerbaijan&#39;s oil production landscape. The project, with its anticipated lifespan, is projected to yield a staggering 300 million barrels of oil.
BP has outlined ambitious plans for the ACE platform, expecting to witness a substantial boost in its production capacity in the coming years. As part of these plans, BP aims to drill, complete and activate two additional wells, which is anticipated to escalate ACE&#39;s production to approximately 24,000 barrels per day by 2024.
The ACE platform distinguishes itself with its technological sophistication and digital prowess. Leveraging automation and modern processes, the platform ensures safer and more efficient operations while concurrently reducing operational emissions. Gary Jones, BP&#39;s regional president for Azerbaijan, Georgia and Turkiye, highlighted the collaboration between BP, SOCAR and the government of Azerbaijan as instrumental in this success.&nbsp;
<h3>Zacks Rank &amp; Key Picks</h3>
BP currently carries a Zack Rank #3 (Hold).
Some better-ranked stocks in the&nbsp;energy&nbsp;sector are&nbsp;Murphy USA Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/musa#NYSE">MUSA</a>), Global Partners&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glp#NYSE">GLP</a>) and Sunoco LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>). While Murphy USA and Global Partners sport a Zacks Rank #1 (Strong Buy) each, Sunoco LP carries a Zacks Rank #2 (Buy) at present.
Murphy USA is a leading independent retailer of motor fuel and convenience merchandise in the United States.
The Zacks Consensus Estimate for MUSA&#39;s 2024 EPS is pegged at $26.40. The company has a Zacks Style Score of B for Growth and B for Value. It has witnessed upward earnings estimate revisions for 2024 in the past seven days.
Global Partners&nbsp;is a leading operator of gasoline stations and convenience stores. Over the past 60 days, GLP has witnessed upward earnings estimate revisions for 2024 and 2025.
The Zacks Consensus Estimate for Global Partners&#39; 2024 and 2025 EPS is pegged at $3.90 and $4.47, respectively. GLP currently has a Zacks Style Score of A for Value.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.&nbsp;
The Zacks Consensus Estimate for SUN&#39;s 2024 EPS is pegged at $4.99. The company has witnessed upward earnings estimate revisions for 2024 in the past seven days.
<a href="https://www.zacks.com/stock/news/2256600/bp-s-new-offshore-platform-in-azerbaijan-goes-operational?cid=CS-BENZ-FT-analyst_blog|company_news_-_energy_sector-2256600">To read this article on Zacks.com click here.</a>

Commodities

BP's New Offshore Platform in Azerbaijan Goes Operational

Guidance

Sunoco Reaffirms Adjusted EBITDA Of $975M To $1B For FY24

Sunoco Announced The Completion Of The Acquisition Of Liquid Fuels Terminals From Zenith Energy And The Divestiture Of 204 Convenience Stores To 7-eleven, Inc.

Sunoco has priced at&nbsp;100%&nbsp;a private offering of&nbsp;7.000%&nbsp;senior notes due 2029 in an aggregate principal amount of&nbsp;$750 million and&nbsp;7.250%&nbsp;senior notes due 2032 in an aggregate principal amount of&nbsp;$750 million. The sale of the notes is expected to settle on&nbsp;April 30, 2024.

Offerings

Sunoco LP Reports Pricing Of Private Offering Of Senior Notes

The&nbsp;special distribution will&nbsp;be paid on May 2, 2024 to holders of record of NuStar Energy L.P. common units as of April 26, 2024. Payment of the special distribution is subject to and conditioned upon holders of NuStar Energy L.P.&#39;s common units approving its previously announced acquisition by Sunoco LP (NYSE:&nbsp;SUN) at NuStar Energy L.P.&#39;s special meeting, which will be held at 9:00 a.m. Central Time on May 1, 2024, and the merger agreement with respect to the acquisition not having been terminated.

Dividends

NuStar Energy Declares Conditional Special Distribution Of $0.212 Per Unit

The expiry is in connection with Sunoco&#39;s pending acquisition of NuStar.
The expiration of the waiting period under the HSR Act satisfies an important condition necessary for the completion of the transaction.

Sunoco And NuStar Energy Announce Expiration Of Hart-Scott-Rodino Act Waiting Period

Phillips 66 (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/psx#NYSE">PSX</a>) recently received approval from the board of directors to increase its quarterly dividend.
The new dividend of $1.15 per share represents an increase of 10% from the prior-quarter payout of $1.05. The hiked dividend of the diversified energy company will likely be paid on Jun 3 to shareholders of record as of the close of business on May 20.
This reflects Phillips 66&#39;s stable and growing business. Being one of the most diversified refiners, the company is putting more emphasis on midstream, renewables and chemicals operations, thereby stabilizing its earnings potential.
The solid business model is thus aiding the company to further strengthen its focus on returning capital to shareholders. Phillips 66 has witnessed a 16% compound annual growth rate in dividends since its formation in 2012. In fact, the leading and diversified refiner has a target of returning $13 billion to $15 billion to investors via both dividend and share repurchases from July 2022 to 2024.
Currently, Phillips 66 carries a Zacks Rank #3 (Hold). Better-ranked players in the energy space include SunocoLP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>), Shell plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shel#NYSE">SHEL</a>) and Murphy USA Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/musa#NYSE">MUSA</a>). While Sunoco and Murphy sport a Zacks Rank #1 (Strong Buy), Shell carries a Zacks Rank #2 (Buy).
Sunoco, the leading independent fuel distributor in the United States, has a stable business model and relatively lower exposure to commodity price volatility. This is because the partnership distributes fuel to branded distributors under long-term contracts.&nbsp;
Shell also has the ambitious target of becoming a net-zero emissions energy player by 2050 or earlier. By 2030, the integrated energy company plans to lower absolute emissions by 50%.
Murphy USA is a renowned retailer of gasoline and convenience goods, distinguished by its adaptable business model that effectively enhances profitability during periods of economic expansion and recession.
<a href="https://www.zacks.com/stock/news/2250490/phillips-66-psx-rewards-investors-with-a-dividend-hike?cid=CS-BENZ-FT-analyst_blog|company_news_-_energy_sector-2250490">To read this article on Zacks.com click here.</a>

SHEL

Phillips 66 (PSX) Rewards Investors With a Dividend Hike

Contracts

U.S. Energy Dept Awards Strategic Petroleum Reserve Contracts Totaling $225M To Atlantic Trading & Marketing, Sunoco, And Macquarie Commodities

U.S. Energy Department Says Contracts Have Been Awarded For The Acquisition Of 3.25M Barrels Of Oil For The Strategic Petroleum Reserve; SPR Contracts Awarded To Exxon Mobil For 1.05M/Barrels, Macquarie Commodities Trading For 1.2M/Barrels, And Sunoco For 1M/Barrels

Today, February 20, 2024, marks an important moment for investors of Sunoco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>). The company will distribute a dividend payout of $0.84 per share, demonstrating an annualized dividend yield of 6.14%. Remember, only shareholders prior to the ex-dividend date on February 06, 2024 are eligible for this payout.
<h3>Sunoco Recent Dividend Payouts</h3>
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<thead>
<tr>
<th>Ex-Date</th>
<th style="text-align: right;">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2024-02-06</td>
<td style="text-align: right;">4</td>
<td>$0.84</td>
<td>6.14%</td>
<td>2024-01-25</td>
<td>2024-02-07</td>
<td>2024-02-20</td>
</tr>
<tr>
<td>2023-10-27</td>
<td style="text-align: right;">4</td>
<td>$0.84</td>
<td>6.61%</td>
<td>2023-10-20</td>
<td>2023-10-30</td>
<td>2023-11-20</td>
</tr>
<tr>
<td>2023-08-11</td>
<td style="text-align: right;">4</td>
<td>$0.84</td>
<td>7.5%</td>
<td>2023-07-25</td>
<td>2023-08-14</td>
<td>2023-08-21</td>
</tr>
<tr>
<td>2023-05-05</td>
<td style="text-align: right;">4</td>
<td>$0.84</td>
<td>7.48%</td>
<td>2023-04-26</td>
<td>2023-05-08</td>
<td>2023-05-22</td>
</tr>
<tr>
<td>2023-02-06</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.24%</td>
<td>2023-01-25</td>
<td>2023-02-07</td>
<td>2023-02-21</td>
</tr>
<tr>
<td>2022-11-03</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.98%</td>
<td>2022-10-25</td>
<td>2022-11-04</td>
<td>2022-11-18</td>
</tr>
<tr>
<td>2022-08-05</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>8.45%</td>
<td>2022-07-26</td>
<td>2022-08-08</td>
<td>2022-08-19</td>
</tr>
<tr>
<td>2022-05-06</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.92%</td>
<td>2022-04-26</td>
<td>2022-05-09</td>
<td>2022-05-19</td>
</tr>
<tr>
<td>2022-02-07</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.69%</td>
<td>2022-01-26</td>
<td>2022-02-08</td>
<td>2022-02-18</td>
</tr>
<tr>
<td>2021-11-04</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.91%</td>
<td>2021-10-25</td>
<td>2021-11-05</td>
<td>2021-11-19</td>
</tr>
<tr>
<td>2021-08-05</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>9.09%</td>
<td>2021-07-22</td>
<td>2021-08-06</td>
<td>2021-08-19</td>
</tr>
<tr>
<td>2021-05-10</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>10.18%</td>
<td>2021-04-02</td>
<td>2021-05-11</td>
<td>2021-05-19</td>
</tr>
</tbody>
</table>
Sunoco is the leader in terms of dividend yield compared to its industry peers, with CVR Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) having the highest annualized dividend yield at 5.71%.
<h3>Analyzing Sunoco Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708441519_0.png" alt="dividend chart graph" />
From 2020 to 2023, the company's dividend per share showed a positive trend, increasing steadily from $3.30 in 2020 to $3.35 in 2023. This demonstrates the company's commitment to rewarding shareholders by consistently raising dividends.
<h3>YoY Earnings Growth For Sunoco</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708441519_1.png" alt="earning chart graph" />
Investors can observe a growth in earnings for Sunoco from 2020 to 2023, as earnings per share increased from $0.78 to $5.56. This upward trajectory in earnings indicates potential for future cash dividend payout increases, which can be advantageous for income-seeking investors.
<h3>Recap</h3>
In this article, we explore the recent dividend payout of Sunoco and its significance for shareholders. The company has decided to distribute a dividend of $0.84 per share today, which equates to an annualized dividend yield of 6.14%.
Sunoco is the leader in terms of dividend yield compared to its industry peers, with CVR Energy having the highest annualized dividend yield at 5.71%.
The upward trend in dividend per share and earnings per share for Sunoco from 2020 to 2023 reflects a strong financial position, supporting the company's ability to consistently distribute profits to their investors.
Investors are advised to closely monitor the company's performance in the upcoming quarters to stay informed about any fluctuations in financials or dividend disbursements.
[Click here](<a href="https://www.benzinga.com/stock//dividends" title="https://www.benzinga.com/stock//dividends">https://www.benzinga.com/stock//dividends</a>) to find details on Sunoco's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Sunoco Demonstrates Strong Performance and Increased Profits, Maximizing Returns for Shareholders

Analysts' ratings for Sunoco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) over the last quarter vary from bullish to bearish, as provided by 6 analysts.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Sunoco and provided 12-month price targets. The average target is $61.83, accompanied by a high estimate of $65.00 and a low estimate of $55.00. Surpassing the previous average price target of $56.00, the current average has increased by 10.41%.
<img src="https://www.benzinga.com/files/images/story/2024/1708437657_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Sunoco. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Selman Akyol</td>
<td>Stifel</td>
<td>Maintains</td>
<td>Hold</td>
<td>$62.00</td>
<td>$62.00</td>
</tr>
<tr>
<td>Spiro Dounis</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$65.00</td>
<td>$54.00</td>
</tr>
<tr>
<td>Justin Jenkins</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Gabriel Moreen</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$60.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Theresa Chen</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$64.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Gabriel Moreen</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$55.00</td>
<td>$53.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Sunoco. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Sunoco compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Sunoco's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Sunoco's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/SUN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Sunoco analyst ratings.</a>
<h2>Get to Know Sunoco Better</h2>
Sunoco LP engages in the business of manufacturing and marketing racing fuels which is the official fuel of NASCAR. is a growth-oriented master limited partnership (MLP) that operates as a wholesale and retail fuel distributor in the United States. The firm operates through the Fuel Distribution and Marketing segment. It distributes motor fuel to convenience stores, dealers, commercial customers in various states. The operating convenience stores are under APlus, Stripes, Aloha Island Mart, and Tigermarket brands.
<h3>Sunoco: Financial Performance Dissected</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Decline in Revenue: Over the 3 months period, Sunoco faced challenges, resulting in a decline of approximately -4.68% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Sunoco's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -2.23%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Sunoco's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -11.68%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -1.78%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Sunoco's debt-to-equity ratio surpasses industry norms, standing at 4.21. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>What Are Analyst Ratings?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Expert Ratings For Sunoco

The Partnership expects full year 2024 Adjusted EBITDA(1)(2) to be between $975 million and $1 billion.&nbsp; This guidance range excludes the impact of the pending acquisition of NuStar Energy L.P.

Earnings

Sunoco LP Reaffirms 2024 Adjusted EBITDA Guidance Of $975M To $1B

Sunoco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) reported quarterly losses of $(1.50) per share. This is a 457.14 percent decrease over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $5.64 billion which beat the analyst consensus estimate of $5.14 billion by 9.75 percent. This is a 4.68 percent decrease over sales of $5.92 billion the same period last year.

Sunoco Q4 EPS $(1.50) Down From $0.42 YoY, Sales $5.64B Beat $5.14B Estimate

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Earnings Scheduled For February 14, 2024

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="http://benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Keybanc raised Texas Instruments Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/txn#NASDAQ">TXN</a>) price target from $180 to $200. Keybanc analyst John Vinh maintained an Overweight rating. Texas Instruments shares fell 0.3% to close at $174.34 on Tuesday. <a href="https://www.benzinga.com/quote/TXN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James increased the price target for Webster Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wbs#NYSE">WBS</a>) from $57 to $60. Raymond James analyst Daniel Tamayo maintained an Outperform rating. Webster Financial shares fell 2.3% to close at $49.96 on Tuesday. <a href="https://www.benzinga.com/quote/WBS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel boosted the price target for NuStar Energy L.P. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ns#NYSE">NS</a>) from $20 to $23. Stifel analyst Selman Akyol downgraded the stock from Buy to Hold. NuStar Energy shares fell 1.3% to close at $21.04 on Tuesday. <a href="https://www.benzinga.com/quote/NS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham raised Apellis Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apls#NASDAQ">APLS</a>) price target from $70 to $75. Needham analyst Joseph Stringer maintained a Buy rating. Apellis Pharmaceuticals shares rose 1.1% to close at $66.18 on Tuesday. <a href="https://www.benzinga.com/quote/APLS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup boosted the price target for Sunoco LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>) from $54 to $65. Citigroup analyst Spiro Dounis upgraded the stock from Neutral to Buy. Sunoco shares fell 1.5% to close at $55.88 on Tuesday. <a href="https://www.benzinga.com/quote/SUN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital cut the price target for Plug Power Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plug#NASDAQ">PLUG</a>) from $3.5 to $2.5. BMO Capital analyst Ameet Thakkar downgraded the stock from Market Perform to Underperform. Plug Power shares gained 31% to close at $3.72 on Tuesday. <a href="https://www.benzinga.com/quote/PLUG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Canaccord Genuity raised Vertex Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrtx#NASDAQ">VRTX</a>) price target from $332 to $379. Canaccord Genuity analyst Whitney Ijem downgraded the stock from Hold to Sell. Vertex Pharmaceuticals shares fell 0.1% to close at $439.70 on Tuesday. <a href="https://www.benzinga.com/quote/VRTX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan cut DXC Technology Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dxc#NYSE">DXC</a>) price target from $27 to $24. JP Morgan analyst Tien-Tsin Huang downgraded the stock from Neutral to Underweight. DXC Technology shares fell 0.8% to close at $23.10 on Tuesday. <a href="https://www.benzinga.com/quote/DXC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley increased Endava plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dava#NYSE">DAVA</a>) price target from $68 to $80. Morgan Stanley analyst James Faucette downgraded the stock from Overweight to Equal-Weight. Endava shares fell 2.2% to close at $78.28 on Tuesday. <a href="https://www.benzinga.com/quote/DAVA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc boosted Netflix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) price target from $545 to $580. Keybanc analyst Justin Patterson maintained an Overweight rating. Netflix shares rose 1.3% to close at $492.19 on Tuesday. <a href="https://www.benzinga.com/quote/NFLX/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/24/01/36753448/texas-instruments-reports-q4-results-joins-blackberry-and-other-big-stocks-moving-lower-in-wednesday"> Texas Instruments Reports Q4 Results, Joins BlackBerry And Other Big Stocks Moving Lower In Wednesday&#39;s Pre-Market Session </a>

Penny Stocks

Price Target

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APLS

DAVA

NFLX

PLUG

VRTX

Netflix To Rally Around 18%? Here Are 10 Top Analyst Forecasts For Wednesday

Sunoco announces private offering of senior notes

Sunoco LP (SUN) just unveiled an announcement. On April 16, 2024, the Partnership announced a private offering of senior notes, not linked to the o...

Sunoco LP Strategizes Finance Amid NuStar Merger Plans

Sunoco LP (SUN) has shared an update. Sunoco LP has announced the pricing of its senior notes offering, in connection with a private offering and a...

Sunoco LP Prices Senior Notes for NuStar Merger and Refinancing

An announcement from Sunoco LP (SUN) is now available. Sunoco LP has successfully completed two major business maneuvers: acquiring liquid fuels te...

Sunoco LP Executes Strategic Acquisitions and Asset Sales

DWSN, SUN among major energy gainers; INDO, MXC among major losers

Sunoco surges after completing European terminal deal, station sale to 7-Eleven

Catalyst Watch: Tesla, Boeing and General Motors brace for earnings fireworks

Wall Street Breakfast: The Week Ahead

RBC Capital analyst Elvira Scotto maintained a Buy rating on Sunoco (SUN – Research Report) yesterday and set a price target of $60.00. The company...

Sunoco (SUN) Receives a Rating Update from a Top Analyst

Companies in the Energy sector have received a lot of coverage today as analysts weigh in on AltaGas (ATGFF – Research Report), Liberty Oilfield Se...

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Sunoco Stock (NYSE:SUN), Short Interest Report

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