StockNews.com Upgrades CrossAmerica Partners (NYSE:CAPL) to Strong-Buy

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

CrossAmerica Partners Stock Performance

Shares of CrossAmerica Partners stock opened at $20.00 on Friday. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $24.19. The firm has a 50-day simple moving average of $20.98 and a two-hundred day simple moving average of $20.33. The company has a market cap of $760.94 million, a P/E ratio of 38.46 and a beta of 1.50.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. Equities research analysts forecast that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Monday, November 4th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.10 annualized dividend and a dividend yield of 10.50%. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 403.85%.

Institutional Inflows and Outflows

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

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.