Joseph V. Jr. Topper Buys 6,300 Shares of CrossAmerica Partners LP (CAPL) Stock
CrossAmerica Partners LP (NYSE:CAPL) Director Joseph V. Jr. Topper bought 6,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average price of $26.48 per share, for a total transaction of $166,824.00. Following the completion of the purchase, the director now owns 163,544 shares in the company, valued at $4,330,645.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of CrossAmerica Partners LP (NYSE CAPL) traded up 0.622% during mid-day trading on Thursday, hitting $26.675. The stock had a trading volume of 8,483 shares. The firm’s market cap is $903.22 million. CrossAmerica Partners LP has a 52-week low of $23.26 and a 52-week high of $29.80. The firm has a 50 day moving average price of $27.05 and a 200 day moving average price of $25.68.
CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Monday, August 7th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.01. CrossAmerica Partners had a return on equity of 4.11% and a net margin of 0.06%. The company had revenue of $528.79 million for the quarter, compared to analysts’ expectations of $596.92 million. Equities analysts predict that CrossAmerica Partners LP will post ($0.02) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a dividend of $0.6225 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.49 dividend on an annualized basis and a dividend yield of 9.39%. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.51. CrossAmerica Partners’s dividend payout ratio (DPR) is currently -8,297.23%.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Stephens Inc. AR boosted its holdings in CrossAmerica Partners by 8.2% in the 1st quarter. Stephens Inc. AR now owns 8,994 shares of the oil and gas company’s stock valued at $235,000 after purchasing an additional 685 shares in the last quarter. Bank of Montreal Can purchased a new stake in CrossAmerica Partners in the 2nd quarter valued at approximately $255,000. Ameriprise Financial Inc. purchased a new stake in CrossAmerica Partners in the 1st quarter valued at approximately $265,000. Wells Fargo & Company MN boosted its holdings in CrossAmerica Partners by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 18,635 shares of the oil and gas company’s stock valued at $488,000 after purchasing an additional 412 shares in the last quarter. Finally, Cowen Inc. purchased a new stake in CrossAmerica Partners in the 2nd quarter valued at approximately $510,000. 35.05% of the stock is currently owned by institutional investors.
CAPL has been the topic of several research analyst reports. Zacks Investment Research upgraded CrossAmerica Partners from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Thursday, May 11th. BidaskClub upgraded CrossAmerica Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Bank of America Corporation downgraded CrossAmerica Partners from a “buy” rating to a “neutral” rating and boosted their price target for the company from $28.00 to $30.00 in a research note on Wednesday, July 26th. Finally, Raymond James Financial, Inc. boosted their price target on CrossAmerica Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $30.00.
CrossAmerica Partners Company Profile
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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