CrossAmerica Partners (NYSE:CAPL) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

CrossAmerica Partners Stock Performance

Shares of CAPL stock opened at $22.09 on Thursday. The firm has a market capitalization of $840.75 million, a P/E ratio of 42.48 and a beta of 0.68. CrossAmerica Partners has a 52-week low of $18.43 and a 52-week high of $25.73. The stock has a 50 day moving average price of $23.35 and a 200 day moving average price of $22.29.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.14). The firm had revenue of $862.48 million during the quarter, compared to analyst estimates of $735.09 million. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. As a group, sell-side analysts forecast that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be issued a $0.525 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.10 dividend on an annualized basis and a yield of 9.51%. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 403.85%.

Institutional Trading of CrossAmerica Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new stake in CrossAmerica Partners during the fourth quarter worth $44,000. EverSource Wealth Advisors LLC raised its stake in shares of CrossAmerica Partners by 47.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,731 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 1,200 shares during the period. Private Advisor Group LLC purchased a new stake in CrossAmerica Partners during the 1st quarter worth approximately $205,000. Sonora Investment Management Group LLC bought a new stake in CrossAmerica Partners in the fourth quarter valued at about $224,000. Finally, Kestra Private Wealth Services LLC bought a new position in shares of CrossAmerica Partners in the 1st quarter worth about $388,000. 24.06% of the stock is owned by institutional investors and hedge funds.

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.