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 report published on Thursday.

CrossAmerica Partners Stock Performance

CAPL stock opened at $22.00 on Thursday. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $25.73. The stock’s 50 day simple moving average is $23.32 and its 200 day simple moving average is $22.30. The company has a market cap of $837.32 million, a P/E ratio of 42.31 and a beta of 0.68.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.14). The firm had revenue of $862.48 million during the quarter, compared to the consensus estimate of $735.09 million. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. Equities analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a $0.525 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.10 annualized dividend and a yield of 9.55%. CrossAmerica Partners’s payout ratio is 403.85%.

Institutional Trading of CrossAmerica Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its position in shares of CrossAmerica Partners by 3.8% during the first quarter. GSA Capital Partners LLP now owns 37,806 shares of the oil and gas company’s stock valued at $929,000 after buying an additional 1,397 shares during the last quarter. Quadrant Private Wealth Management LLC grew its stake in shares of CrossAmerica Partners by 0.4% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 165,262 shares of the oil and gas company’s stock worth $4,060,000 after acquiring an additional 719 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of CrossAmerica Partners in the first quarter valued at about $388,000. Private Advisor Group LLC bought a new position in shares of CrossAmerica Partners during the first quarter valued at about $205,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in CrossAmerica Partners by 50.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,596 shares of the oil and gas company’s stock worth $752,000 after purchasing an additional 10,269 shares during the last quarter. 24.06% of the stock is owned by institutional investors.

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.