CrossAmerica Partners (NYSE:CAPL) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

CrossAmerica Partners LP (NYSE:CAPL)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $20.65 and traded as high as $21.17. CrossAmerica Partners shares last traded at $20.85, with a volume of 3,589 shares traded.

Wall Street Analysts Forecast Growth

CAPL has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of CrossAmerica Partners in a report on Monday. Wall Street Zen downgraded shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

CrossAmerica Partners Trading Up 0.1%

The business has a 50-day moving average price of $20.65 and a 200-day moving average price of $20.81. The stock has a market cap of $794.80 million, a PE ratio of 17.38 and a beta of 0.34.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. The company had revenue of $971.85 million during the quarter, compared to analysts’ expectations of $780.93 million. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. Equities analysts expect that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.1%. CrossAmerica Partners’s dividend payout ratio is presently 175.00%.

Insider Buying and Selling

In other news, Director Joseph V. Jr. Topper acquired 1,801 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were bought at an average price of $19.74 per share, for a total transaction of $35,551.74. Following the acquisition, the director owned 1,859,450 shares of the company’s stock, valued at approximately $36,705,543. This trade represents a 0.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John B. Reilly III bought 1,871 shares of the stock in a transaction on Friday, October 10th. The shares were acquired at an average cost of $19.74 per share, for a total transaction of $36,933.54. Following the purchase, the director owned 4,969,188 shares in the company, valued at $98,091,771.12. The trade was a 0.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 52.00% of the company’s stock.

Hedge Funds Weigh In On CrossAmerica Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. Eastern Bank acquired a new position in CrossAmerica Partners during the third quarter worth about $26,000. SVB Wealth LLC purchased a new position in CrossAmerica Partners in the 1st quarter worth approximately $33,000. Outlook Wealth Advisors LLC lifted its stake in CrossAmerica Partners by 5.1% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 12,300 shares of the oil and gas company’s stock worth $259,000 after purchasing an additional 600 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of CrossAmerica Partners by 36.3% during the 2nd quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company’s stock worth $299,000 after purchasing an additional 3,812 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in shares of CrossAmerica Partners in the third quarter valued at approximately $305,000. 24.06% of the stock is owned by hedge funds and other institutional investors.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.