CrossAmerica Partners (NYSE:CAPL) Share Price Passes Above 50 Day Moving Average – Should You Sell?

CrossAmerica Partners LP (NYSE:CAPL)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $20.54 and traded as high as $20.60. CrossAmerica Partners shares last traded at $20.51, with a volume of 8,520 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAPL. Wall Street Zen cut CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CrossAmerica Partners in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

CrossAmerica Partners Trading Down 0.1%

The firm has a market capitalization of $781.84 million, a price-to-earnings ratio of 17.09 and a beta of 0.34. The business has a 50-day moving average price of $20.54 and a two-hundred day moving average price of $20.97.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.07 by $0.08. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. The company had revenue of $971.85 million for the quarter, compared to analyst estimates of $780.93 million. On average, equities research analysts predict that CrossAmerica Partners LP will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 3rd were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.10 annualized dividend and a yield of 10.2%. CrossAmerica Partners’s dividend payout ratio is currently 175.00%.

Insider Activity at CrossAmerica Partners

In related news, Director John B. Reilly III bought 1,871 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director directly owned 4,969,188 shares of the company’s stock, valued at $98,091,771.12. The trade was a 0.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph V. Jr. Topper bought 1,801 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were bought at an average cost of $19.74 per share, for a total transaction of $35,551.74. Following the completion of the transaction, the director directly owned 1,859,450 shares of the company’s stock, valued at $36,705,543. This trade represents a 0.10% 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

A number of institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP raised its holdings in CrossAmerica Partners by 22.9% during the 3rd quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock worth $4,186,000 after buying an additional 37,093 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CrossAmerica Partners by 4.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock valued at $12,774,000 after acquiring an additional 27,767 shares during the period. Ellsworth Advisors LLC purchased a new stake in shares of CrossAmerica Partners in the 1st quarter valued at approximately $648,000. Acadian Asset Management LLC acquired a new position in CrossAmerica Partners in the 1st quarter worth approximately $535,000. Finally, NewEdge Wealth LLC grew its position in CrossAmerica Partners by 25.4% during the 3rd quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company’s stock worth $1,859,000 after purchasing an additional 18,798 shares in the last quarter. Hedge funds and other institutional investors own 24.06% of the company’s stock.

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.