CrossAmerica Partners (NYSE:CAPL) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of CrossAmerica Partners (NYSE:CAPL) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

CrossAmerica Partners Stock Up 0.5 %

CrossAmerica Partners stock opened at $21.97 on Friday. The company’s 50-day moving average price is $20.38 and its 200-day moving average price is $20.71. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $24.19. The company has a market cap of $835.45 million, a PE ratio of 36.02 and a beta of 1.51.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.27 billion. As a group, sell-side analysts expect that CrossAmerica Partners will post 0.46 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.56%. CrossAmerica Partners’s dividend payout ratio is presently 344.26%.

Institutional Investors Weigh In On CrossAmerica Partners

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in CrossAmerica Partners in the 1st quarter valued at about $31,000. GSA Capital Partners LLP lifted its position in shares of CrossAmerica Partners by 79.7% in the 1st quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock worth $830,000 after purchasing an additional 16,153 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of CrossAmerica Partners in the 1st quarter worth approximately $205,000. Janney Montgomery Scott LLC lifted its position in shares of CrossAmerica Partners by 10.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 1,872 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of CrossAmerica Partners by 1.9% in the 1st quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock worth $706,000 after purchasing an additional 565 shares during the period. 24.06% of the stock is owned by hedge funds and other 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.