CrossAmerica Partners (NYSE:CAPL) Stock Falls 5.1% – Here’s Why

CrossAmerica Partners LP (NYSE:CAPL) shares were down 5.1% during trading on Monday. The stock traded as low as $18.71 and last traded at $18.7640. 106,846 shares traded hands during mid-day trading, an increase of 148% from the average session volume of 43,124 shares. The stock had previously closed at $19.77.

Analyst Upgrades and Downgrades

CAPL has been the subject of a number of research analyst reports. Zacks Research downgraded shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings reissued a “hold (c)” rating on shares of CrossAmerica Partners in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has an average rating of “Hold”.

CrossAmerica Partners Stock Performance

The stock’s fifty day simple moving average is $21.97 and its two-hundred day simple moving average is $22.00. The company has a market cap of $729.20 million, a price-to-earnings ratio of 15.11 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, November 4th. The oil and gas company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.21). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.02 billion. CrossAmerica Partners had a negative return on equity of 38.02% and a net margin of 1.24%. Analysts predict that CrossAmerica Partners LP will post 1.07 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.5250 per share. This represents a $2.10 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend is Monday, November 2nd. CrossAmerica Partners’s payout ratio is 169.35%.

Institutional Investors Weigh In On CrossAmerica Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in CrossAmerica Partners by 40.0% during the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 600 shares during the last quarter. Gateway Wealth Partners LLC purchased a new position in shares of CrossAmerica Partners in the 1st quarter worth about $214,000. Commonwealth Equity Services LLC acquired a new position in shares of CrossAmerica Partners in the 3rd quarter valued at about $249,000. Sei Investments Co. acquired a new position in shares of CrossAmerica Partners in the 1st quarter valued at about $278,000. Finally, NewEdge Wealth LLC lifted its stake in shares of CrossAmerica Partners by 1.3% in the 1st quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock valued at $1,953,000 after purchasing an additional 1,213 shares in the last quarter. 24.06% of the stock is currently owned by institutional investors and hedge funds.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.