CrossAmerica Partners (NYSE:CAPL) Cut to “Buy” at StockNews.com

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

CrossAmerica Partners Stock Up 1.0 %

Shares of CAPL opened at $23.20 on Friday. CrossAmerica Partners has a 12-month low of $18.43 and a 12-month high of $23.60. The business’s fifty day moving average is $22.42 and its 200 day moving average is $21.33. The stock has a market cap of $882.50 million, a P/E ratio of 44.61 and a beta of 1.47.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.38. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The company had revenue of $944.22 million for the quarter, compared to analysts’ expectations of $1.21 billion. On average, analysts expect that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 9.05%. The ex-dividend date was Monday, February 3rd. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CrossAmerica Partners by 5.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company’s stock valued at $12,494,000 after acquiring an additional 28,758 shares in the last quarter. Stifel Financial Corp lifted its stake in CrossAmerica Partners by 5.8% during the 4th quarter. Stifel Financial Corp now owns 44,469 shares of the oil and gas company’s stock valued at $978,000 after acquiring an additional 2,423 shares in the last quarter. Raymond James Financial Inc. bought a new position in CrossAmerica Partners during the 4th quarter valued at $6,245,000. CIBC Private Wealth Group LLC increased its position in shares of CrossAmerica Partners by 4.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 25,500 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 1,000 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of CrossAmerica Partners by 6.2% during the 4th quarter. LPL Financial LLC now owns 107,405 shares of the oil and gas company’s stock valued at $2,363,000 after purchasing an additional 6,306 shares during the last quarter. 24.06% of the stock is currently owned by institutional investors.

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.