StockNews.com Upgrades CrossAmerica Partners (NYSE:CAPL) to Strong-Buy

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

CrossAmerica Partners Stock Performance

CAPL opened at $21.71 on Friday. The firm has a market cap of $825.57 million, a P/E ratio of 35.59 and a beta of 1.51. The business has a 50 day moving average price of $20.50 and a 200 day moving average price of $20.68. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.27 billion. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. As a group, analysts anticipate that CrossAmerica Partners will post 0.46 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 9.67%. The ex-dividend date was Friday, August 2nd. CrossAmerica Partners’s dividend payout ratio is currently 344.26%.

Hedge Funds Weigh In On CrossAmerica Partners

Several large investors have recently made changes to their positions in the business. American Financial Group Inc. boosted its holdings in CrossAmerica Partners by 3.7% in the 1st quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 500 shares during the period. BNP Paribas Financial Markets increased its stake in CrossAmerica Partners by 1.9% during the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock valued at $706,000 after acquiring an additional 565 shares during the period. Acadian Asset Management LLC acquired a new position in CrossAmerica Partners in the 1st quarter valued at approximately $31,000. Janney Montgomery Scott LLC lifted its position in shares of CrossAmerica Partners by 10.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 1,872 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of CrossAmerica Partners by 376.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 24.06% 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.