CrossAmerica Partners LP (NYSE:CAPL) Short Interest Up 18.7% in March

CrossAmerica Partners LP (NYSE:CAPL) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 118,000 shares, an increase of 18.7% from the March 15th total of 99,400 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average trading volume of 43,700 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Monday, March 24th.

CrossAmerica Partners Trading Down 2.8 %

Shares of CAPL traded down $0.64 during mid-day trading on Monday, hitting $22.39. The company’s stock had a trading volume of 26,095 shares, compared to its average volume of 38,159. The firm has a market capitalization of $852.16 million, a price-to-earnings ratio of 43.06 and a beta of 1.07. CrossAmerica Partners has a 52-week low of $18.43 and a 52-week high of $25.73. The company’s 50-day moving average is $23.17 and its 200-day moving average is $22.11.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.38. The company had revenue of $944.22 million for the quarter, compared to the consensus estimate of $1.21 billion. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. As a group, sell-side analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 3rd were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.38%. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 403.85%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CAPL. Sanctuary Advisors LLC lifted its stake in CrossAmerica Partners by 5.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after purchasing an additional 1,000 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of CrossAmerica Partners during the third quarter worth $279,000. JPMorgan Chase & Co. grew its position in CrossAmerica Partners by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock valued at $7,485,000 after acquiring an additional 28,991 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in CrossAmerica Partners by 27.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,951 shares of the oil and gas company’s stock worth $637,000 after buying an additional 6,259 shares in the last quarter. Finally, Sonora Investment Management Group LLC acquired a new position in CrossAmerica Partners during the 4th quarter worth $224,000. 24.06% of the stock is owned by institutional investors and hedge funds.

About CrossAmerica Partners

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.