CFO of Sunoco Logistics Partners LP, (SXL) Martin Salinas bought 2,400 shares on March 4 according to GuruFocus Insider Buys. The stocks traded at an average price of $63.81 for a total transaction price of $153,144. This is Salinas’ first insider buy in to Sunoco, and he now holds at least 2,400 shares.
Martin Salinas Jr. has been the CFO at Sunoco Logistics Partners since October 2012. Mr. Salinas has also been the CFO and CAO of Energy Transfer Partners LLC since June 2008. Prior to Energy Transfer, Salinas served as a Senior Audit Manager at KPMG in San Antonio, Texas.
Located in Philadelphia, Penn., Sunoco Logistics has a market cap of $6.87 billion. Sunoco is a company that owns, operates, and acquires properties for use in the crude oil industry. The company operates two primary crude oil terminals in Texas and Pennsylvania. From these terminals, crude oil is shipped across the U.S. through the pipelines that Sunoco also owns and operates.
2012 was a big year for Sunoco. The company was acquired by Energy Transfer Partners (ETP) during the fourth quarter. It also increased distributable cash flow for 2012 to a record $604 million. Also in 2012, Sunoco reached its 31st consecutive quarterly distribution increased marked by a 30 percent increase compared to the fourth quarter 2011.
“2012 was a record year for our Partnership,” said Michael J. Hennigan, president and CEO of Sunoco Logistics. “Our earnings reached new highs and we successfully developed six major organic expansion projects that will position us well for 2013 and beyond.”
Also in 2013, Director Steven Anderson reported an insider buy on Feb. 25 of 5,000 shares for a trade price of $60.76. The price of Sunoco stock is up 8.57% since this buy.
With its stocks down 0.53% this morning, Sunoco Logistics trades at $65.97.
GuruFocus Gurus Chuck Royce and Jim Simons own shares in SXL. Royce currently holds 693,000 shares and Simons maintains 454,099 shares.
For more details on Sunoco’s insider trades, visit Martin Salinas’ Insider Trades.
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