CrossAmerica Partners LP (NYSE:CAPL) Sees Large Increase in Short Interest

CrossAmerica Partners LP (NYSE:CAPL) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 85,000 shares, a growth of 26.5% from the September 30th total of 67,200 shares. Based on an average trading volume of 32,800 shares, the days-to-cover ratio is currently 2.6 days. Approximately 0.5% of the shares of the stock are sold short.

CrossAmerica Partners Stock Performance

Shares of CAPL traded up $0.09 during midday trading on Wednesday, hitting $21.06. 5,487 shares of the stock were exchanged, compared to its average volume of 35,967. The firm has a market cap of $800.85 million, a P/E ratio of 34.36 and a beta of 1.51. CrossAmerica Partners has a 52-week low of $18.43 and a 52-week high of $24.19. The stock has a fifty day simple moving average of $20.82 and a 200 day simple moving average of $20.56.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. CrossAmerica Partners had a negative return on equity of 314.20% and a net margin of 0.51%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.27 billion. As a group, equities research analysts forecast that CrossAmerica Partners will post 0.46 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 9.97%. The ex-dividend date is Monday, November 4th. CrossAmerica Partners’s dividend payout ratio (DPR) is 344.26%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Hedge Funds Weigh In On CrossAmerica Partners

A number of institutional investors have recently modified their holdings of CAPL. Sanctuary Advisors LLC acquired a new stake in shares of CrossAmerica Partners during the 2nd quarter valued at approximately $348,000. EverSource Wealth Advisors LLC raised its position in CrossAmerica Partners by 376.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,000 shares during the last quarter. IFG Advisory LLC acquired a new stake in shares of CrossAmerica Partners in the second quarter valued at approximately $332,000. B. Riley Wealth Advisors Inc. purchased a new stake in CrossAmerica Partners in the 1st quarter valued at approximately $205,000. Finally, Acadian Asset Management LLC acquired a new position in shares of CrossAmerica Partners in the first quarter worth $31,000. 24.06% of the stock is owned by institutional investors and hedge funds.

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.