CrossAmerica Partners (NYSE:CAPL) Upgraded by StockNews.com to Strong-Buy Rating

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

CrossAmerica Partners Stock Performance

NYSE:CAPL opened at $23.34 on Friday. The stock has a 50-day simple moving average of $22.60 and a two-hundred day simple moving average of $21.48. CrossAmerica Partners has a 52-week low of $18.43 and a 52-week high of $23.97. The firm has a market capitalization of $888.13 million, a PE ratio of 44.88 and a beta of 1.48.

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

CrossAmerica Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.00%. 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

A number of hedge funds have recently made changes to their positions in the business. Quadrant Private Wealth Management LLC boosted its stake in shares of CrossAmerica Partners by 0.5% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 164,543 shares of the oil and gas company’s stock worth $3,620,000 after acquiring an additional 775 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of 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 worth $377,000 after acquiring an additional 1,000 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of CrossAmerica Partners by 4.1% in 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 during the period. EverSource Wealth Advisors LLC boosted its stake 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 period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of CrossAmerica Partners by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 28,768 shares of the oil and gas company’s stock worth $633,000 after acquiring an additional 1,747 shares during the period. 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.