CrossAmerica Partners (NYSE:CAPL) Shares Down 3.9% – What’s Next?

CrossAmerica Partners LP (NYSE:CAPL)’s stock price traded down 3.9% during trading on Monday . The stock traded as low as $21.30 and last traded at $21.3450. 18,816 shares traded hands during trading, a decline of 58% from the average daily volume of 44,899 shares. The stock had previously closed at $22.21.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings raised CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Wall Street Zen raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

CrossAmerica Partners Stock Up 0.9%

The firm has a 50-day moving average of $22.12 and a two-hundred day moving average of $21.88. The stock has a market capitalization of $818.00 million, a price-to-earnings ratio of 14.40 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.42. The company had revenue of $841.83 million for the quarter, compared to analysts’ expectations of $697.31 million. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%. As a group, sell-side analysts predict that CrossAmerica Partners LP will post 0.93 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.8%. CrossAmerica Partners’s dividend payout ratio is 140.94%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CrossAmerica Partners by 4.8% during 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 buying an additional 27,767 shares during the last quarter. Raymond James Financial Inc. increased its holdings in CrossAmerica Partners by 4.8% in the third quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock worth $6,272,000 after buying an additional 13,767 shares during the last quarter. First Trust Advisors LP raised 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 valued at $4,186,000 after acquiring an additional 37,093 shares in the last quarter. LPL Financial LLC raised its position in CrossAmerica Partners by 5.8% during the fourth quarter. LPL Financial LLC now owns 119,713 shares of the oil and gas company’s stock valued at $2,466,000 after acquiring an additional 6,614 shares in the last quarter. Finally, Mariner LLC lifted its stake in CrossAmerica Partners by 7.5% in the third quarter. Mariner LLC now owns 107,873 shares of the oil and gas company’s stock valued at $2,269,000 after acquiring an additional 7,481 shares during the last quarter. 24.06% of the stock is owned by hedge funds and other institutional investors.

About CrossAmerica Partners

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.