CrossAmerica Partners (NYSE:CAPL) Cut to Buy at StockNews.com

StockNews.com lowered shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a research report released on Sunday morning.

CrossAmerica Partners Price Performance

Shares of CAPL opened at $23.57 on Friday. The company’s 50-day moving average is $22.81 and its 200-day moving average is $21.66. The firm has a market capitalization of $897.07 million, a PE ratio of 45.33 and a beta of 1.48. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $23.97.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.38. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The firm had revenue of $944.22 million during the quarter, compared to the consensus estimate of $1.21 billion. Analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date of this dividend was Monday, February 3rd. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in CrossAmerica Partners by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock valued at $7,485,000 after purchasing an additional 28,991 shares during the period. Franklin Resources Inc. acquired a new stake in shares of CrossAmerica Partners in the third quarter valued at approximately $279,000. Sanctuary Advisors LLC boosted its stake in shares of CrossAmerica Partners by 5.7% in the third quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock valued at $377,000 after buying an additional 1,000 shares during the period. Allworth Financial LP bought a new stake in shares of CrossAmerica Partners in the fourth quarter valued at approximately $44,000. Finally, NewEdge Wealth LLC grew its position in CrossAmerica Partners by 112.7% during the fourth quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company’s stock worth $1,567,000 after buying an additional 37,736 shares in the last quarter. 24.06% of the stock is currently owned by institutional investors and hedge funds.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.