Sunoco LPSUN was a big mover last session, as its shares rose almost 13% on the day. The move came after the company announced it had amended some of the terms of its $1.5 billion Revolving Credit Facility and $2.0 billion Term Loan Agreement "to provide temporary covenant relief and financial flexibility over the upcoming quarters." This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $21.21 to $24.99 in the past one-month time frame.
Over the last 30 days, the company witnessed one positive estimate revision and the Zacks Consensus Estimate also moved higher, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday's jump can turn into more strength down the road.
Sunoco currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
SUNOCO LP Price
A better-ranked stock in the broader oil-gas space is Chesapeake Energy Corporation CHK , carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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