CrossAmerica Partners (NYSE:CAPL) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of CrossAmerica Partners (NYSE:CAPL) from a buy rating to a strong-buy rating in a research note published on Monday.

CrossAmerica Partners Stock Performance

NYSE:CAPL opened at $24.40 on Monday. The company has a market capitalization of $928.47 million, a PE ratio of 46.91 and a beta of 1.48. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $24.50. The company has a 50 day simple moving average of $22.99 and a two-hundred day simple moving average of $21.82.

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

CrossAmerica Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 3rd were paid a dividend of $0.525 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.10 annualized dividend and a yield of 8.61%. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in shares of CrossAmerica Partners by 18.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock worth $560,000 after buying an additional 4,267 shares during the period. Sanctuary Advisors LLC boosted its stake in CrossAmerica Partners by 5.7% during the third quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after acquiring an additional 1,000 shares in the last quarter. Franklin Resources Inc. acquired a new stake in CrossAmerica Partners in the third quarter worth $279,000. JPMorgan Chase & Co. increased its stake in CrossAmerica Partners by 8.7% in the third 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 in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of CrossAmerica Partners by 27.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,951 shares of the oil and gas company’s stock valued at $637,000 after purchasing an additional 6,259 shares during the period. 24.06% of the stock is owned by institutional investors and hedge funds.

About CrossAmerica Partners

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.