CrossAmerica Partners (NYSE:CAPL) Upgraded at StockNews.com

StockNews.com upgraded shares of CrossAmerica Partners (NYSE:CAPL) from a buy rating to a strong-buy rating in a research note released on Saturday.

CrossAmerica Partners Stock Up 0.4 %

Shares of CAPL stock opened at $23.40 on Friday. CrossAmerica Partners has a 12-month low of $18.43 and a 12-month high of $23.97. The company has a market capitalization of $890.60 million, a PE ratio of 45.00 and a beta of 1.48. The firm has a 50 day moving average price of $22.64 and a two-hundred day moving average price of $21.51.

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

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 3rd were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 8.97%. The ex-dividend date of this dividend was Monday, February 3rd. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

Institutional Trading of CrossAmerica Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Private Wealth Management LLC boosted its holdings in shares of CrossAmerica Partners by 0.5% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 164,543 shares of the oil and gas company’s stock valued at $3,620,000 after purchasing an additional 775 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in CrossAmerica Partners by 5.7% in the third quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock valued at $377,000 after buying an additional 1,000 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in CrossAmerica Partners by 4.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 25,500 shares of the oil and gas company’s stock worth $561,000 after acquiring an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of CrossAmerica Partners by 47.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,731 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of CrossAmerica Partners by 6.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 28,768 shares of the oil and gas company’s stock valued at $633,000 after purchasing an additional 1,747 shares in the last quarter. Institutional investors own 24.06% of the company’s stock.

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.