SVB Wealth LLC Makes New $33,000 Investment in CrossAmerica Partners LP $CAPL

SVB Wealth LLC purchased a new stake in shares of CrossAmerica Partners LP (NYSE:CAPL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,345 shares of the oil and gas company’s stock, valued at approximately $33,000.

A number of other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CrossAmerica Partners by 5.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company’s stock worth $12,494,000 after purchasing an additional 28,758 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of CrossAmerica Partners during the 1st quarter valued at $388,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of CrossAmerica Partners by 50.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,596 shares of the oil and gas company’s stock valued at $752,000 after buying an additional 10,269 shares in the last quarter. Private Advisor Group LLC bought a new stake in CrossAmerica Partners during the first quarter valued at about $205,000. Finally, Raymond James Financial Inc. raised its holdings in CrossAmerica Partners by 1.8% during the first quarter. Raymond James Financial Inc. now owns 288,932 shares of the oil and gas company’s stock valued at $7,099,000 after acquiring an additional 5,060 shares during the period. 24.06% of the stock is currently owned by institutional investors.

CrossAmerica Partners Stock Down 0.9%

Shares of CAPL stock opened at $20.82 on Thursday. The company’s fifty day simple moving average is $20.92 and its two-hundred day simple moving average is $22.22. CrossAmerica Partners LP has a 52 week low of $19.05 and a 52 week high of $25.73. The stock has a market cap of $793.47 million, a P/E ratio of 18.42 and a beta of 0.55.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.13). CrossAmerica Partners had a net margin of 1.19% and a negative return on equity of 32.78%. The company had revenue of $961.93 million for the quarter, compared to the consensus estimate of $793.52 million. On average, analysts anticipate that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.10 dividend on an annualized basis and a yield of 10.1%. CrossAmerica Partners’s payout ratio is presently 185.84%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised CrossAmerica Partners from a “hold” rating to a “buy” rating in a report on Monday.

Insider Buying and Selling

In other news, Director John B. Reilly III acquired 2,706 shares of CrossAmerica Partners stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $20.01 per share, with a total value of $54,147.06. Following the purchase, the director directly owned 4,967,317 shares in the company, valued at $99,396,013.17. The trade was a 0.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph V. Jr. Topper acquired 2,706 shares of CrossAmerica Partners stock in a transaction on Tuesday, August 12th. The stock was purchased at an average cost of $20.01 per share, for a total transaction of $54,147.06. Following the purchase, the director owned 1,857,649 shares in the company, valued at approximately $37,171,556.49. The trade was a 0.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 52.00% of the company’s stock.

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.