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

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

CrossAmerica Partners Stock Performance

CrossAmerica Partners stock opened at $23.74 on Monday. CrossAmerica Partners has a one year low of $18.43 and a one year high of $23.97. The business has a fifty day moving average of $22.93 and a two-hundred day moving average of $21.78. The company has a market cap of $903.54 million, a P/E ratio of 45.65 and a beta of 1.48.

CrossAmerica Partners (NYSE:CAPL) last posted its 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 for 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%. Sell-side analysts predict that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

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 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 dividend yield of 8.85%. CrossAmerica Partners’s dividend payout ratio (DPR) is 403.85%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in CrossAmerica Partners during the fourth quarter worth $6,245,000. NewEdge Wealth LLC increased its position in CrossAmerica Partners by 112.7% during the 4th 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 in the last quarter. JPMorgan Chase & Co. increased 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CrossAmerica Partners by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company’s stock valued at $12,494,000 after purchasing an additional 28,758 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in CrossAmerica Partners in the 3rd quarter valued at about $279,000. 24.06% of the stock is currently owned by institutional investors and hedge funds.

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.