CrossAmerica Partners (NYSE:CAPL) Stock Passes Above Fifty Day Moving Average – Should You Sell?

CrossAmerica Partners LP (NYSE:CAPL)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $21.76 and traded as high as $22.40. CrossAmerica Partners shares last traded at $21.9060, with a volume of 55,943 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CAPL shares. Weiss Ratings raised CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Zacks Research raised CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy”.

CrossAmerica Partners Price Performance

The company has a 50 day moving average price of $21.76 and a two-hundred day moving average price of $21.53. The stock has a market cap of $835.28 million, a PE ratio of 14.70 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.42. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%.The firm had revenue of $841.83 million during the quarter, compared to analysts’ expectations of $697.31 million. As a group, equities analysts predict that CrossAmerica Partners LP will post 0.93 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 4th were paid a $0.525 dividend. The ex-dividend date was Monday, May 4th. This represents a $2.10 annualized dividend and a dividend yield of 9.6%. CrossAmerica Partners’s payout ratio is currently 140.94%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its stake in shares of CrossAmerica Partners by 40.0% in the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 600 shares during the last quarter. CWM LLC raised its stake in shares of CrossAmerica Partners by 35.5% in the fourth quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 887 shares during the last quarter. North Star Investment Management Corp. purchased a new position in shares of CrossAmerica Partners in the first quarter worth $105,000. Wells Fargo & Company MN raised its stake in shares of CrossAmerica Partners by 43.3% in the fourth quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 1,869 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of CrossAmerica Partners by 48.7% in the fourth quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 2,422 shares during the last quarter. Hedge funds and other institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

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.