CrossAmerica Partners (NYSE:CAPL) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

CrossAmerica Partners LP (NYSE:CAPL)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $21.86 and traded as low as $21.58. CrossAmerica Partners shares last traded at $21.7860, with a volume of 41,560 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Wall Street Zen upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research raised CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

CrossAmerica Partners Stock Down 0.8%

The company’s 50 day moving average is $21.86 and its 200 day moving average is $21.59. The firm has a market capitalization of $830.70 million, a price-to-earnings ratio of 14.62 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.42. The business had revenue of $841.83 million for the quarter, compared to analyst estimates of $697.31 million. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. On average, analysts expect that CrossAmerica Partners LP will post 0.93 EPS for the current year.

CrossAmerica Partners Dividend Announcement

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

Institutional Investors Weigh In On CrossAmerica Partners

Institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its position in CrossAmerica Partners by 22.9% during the third 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CrossAmerica Partners by 4.8% in the 2nd 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 in the last quarter. Acadian Asset Management LLC acquired a new position in CrossAmerica Partners in the 1st quarter valued at $535,000. Raymond James Financial Inc. lifted its position in shares of CrossAmerica Partners by 4.8% during the 3rd quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock valued at $6,272,000 after acquiring an additional 13,767 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of CrossAmerica Partners during the 1st quarter valued at $278,000. 24.06% of the stock is currently owned by institutional investors.

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.