CrossAmerica Partners (NYSE:CAPL) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a research note published on Sunday.

CrossAmerica Partners Trading Up 0.3 %

Shares of NYSE CAPL opened at $23.49 on Friday. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $23.97. The company has a market capitalization of $893.84 million, a price-to-earnings ratio of 45.16 and a beta of 1.48. The business has a 50 day simple moving average of $22.75 and a 200-day simple moving average of $21.60.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data 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 firm had revenue of $944.22 million during the quarter, compared to the consensus estimate of $1.21 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. As a group, equities analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

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

Institutional Trading of CrossAmerica Partners

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of CrossAmerica Partners during the fourth quarter worth $6,245,000. NewEdge Wealth LLC raised its position in shares of CrossAmerica Partners by 112.7% during the fourth quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company’s stock worth $1,567,000 after purchasing an additional 37,736 shares during the period. JPMorgan Chase & Co. raised its position in shares of CrossAmerica Partners by 8.7% during the third 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CrossAmerica Partners by 5.3% during 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 during the period. Finally, Franklin Resources Inc. acquired a new stake in shares of CrossAmerica Partners during the third quarter worth $279,000. Institutional investors and hedge funds 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.