CrossAmerica Partners (NYSE:CAPL) Reaches New 1-Year High – What’s Next?

CrossAmerica Partners LP (NYSE:CAPL) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $23.80 and last traded at $23.16, with a volume of 24184 shares changing hands. The stock had previously closed at $23.22.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of CrossAmerica Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th.

CrossAmerica Partners Price Performance

The firm has a market cap of $893.72 million, a PE ratio of 45.17 and a beta of 1.47. The stock’s fifty day simple moving average is $22.51 and its 200-day simple moving average is $21.41.

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

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 3rd were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date was Monday, February 3rd. CrossAmerica Partners’s dividend payout ratio (DPR) is 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its holdings in shares of CrossAmerica Partners by 18.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 4,267 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings 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 purchasing an additional 1,000 shares during the last quarter. Franklin Resources Inc. purchased a new stake in CrossAmerica Partners in the third quarter valued at $279,000. JPMorgan Chase & Co. grew its position in CrossAmerica Partners by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock worth $7,485,000 after purchasing an additional 28,991 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of CrossAmerica Partners by 27.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,951 shares of the oil and gas company’s stock valued at $637,000 after buying an additional 6,259 shares during the last quarter. 24.06% of the stock is owned by hedge funds and other 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.