John B. Reilly III Purchases 1,602 Shares of CrossAmerica Partners LP (NYSE:CAPL) Stock
CrossAmerica Partners LP (NYSE:CAPL) Director John B. Reilly III bought 1,602 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $25.91 per share, for a total transaction of $41,507.82. Following the completion of the acquisition, the director now directly owns 192,471 shares in the company, valued at approximately $4,986,923.61. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
CrossAmerica Partners LP (NYSE:CAPL) traded up 1.52% on Monday, hitting $26.65. The stock had a trading volume of 34,969 shares. The company’s market cap is $893.41 million. CrossAmerica Partners LP has a 52-week low of $23.26 and a 52-week high of $29.80. The stock’s 50-day moving average is $26.54 and its 200-day moving average is $25.67.
CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Monday, August 7th. The oil and gas company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.01. The firm had revenue of $528.79 million for the quarter, compared to analysts’ expectations of $596.92 million. CrossAmerica Partners had a return on equity of 4.11% and a net margin of 0.06%. Analysts expect that CrossAmerica Partners LP will post $0.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.6225 per share. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.51. This represents a $2.49 dividend on an annualized basis and a dividend yield of 9.49%. The ex-dividend date is Thursday, August 3rd. CrossAmerica Partners’s dividend payout ratio is currently -8,297.23%.
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CAPL has been the topic of several recent research reports. Zacks Investment Research raised CrossAmerica Partners from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Thursday, May 11th. BidaskClub raised CrossAmerica Partners from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Bank of America Corporation downgraded CrossAmerica Partners from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $28.00 to $30.00 in a report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. lifted their target price on CrossAmerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $30.00.
Several hedge funds have recently bought and sold shares of CAPL. Stephens Inc. AR raised its stake in CrossAmerica Partners by 8.2% in the first quarter. Stephens Inc. AR now owns 8,994 shares of the oil and gas company’s stock worth $235,000 after buying an additional 685 shares in the last quarter. Bank of Montreal Can purchased a new stake in CrossAmerica Partners during the second quarter worth $255,000. Ameriprise Financial Inc. purchased a new stake in CrossAmerica Partners during the first quarter worth $265,000. Wells Fargo & Company MN raised its stake in CrossAmerica Partners by 2.3% in the first quarter. Wells Fargo & Company MN now owns 18,635 shares of the oil and gas company’s stock worth $488,000 after buying an additional 412 shares in the last quarter. Finally, Cowen Inc. purchased a new stake in CrossAmerica Partners during the second quarter worth $510,000. Institutional investors own 37.10% of the company’s stock.
About CrossAmerica Partners
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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