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 Monday.

CrossAmerica Partners Stock Up 0.6 %

Shares of CrossAmerica Partners stock opened at $23.74 on Monday. The firm has a market cap of $903.54 million, a PE ratio of 45.65 and a beta of 1.48. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $23.97. The business has a 50-day moving average price of $22.93 and a 200 day moving average price of $21.78.

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 for the quarter, topping the consensus estimate 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 net margin of 0.50% and a negative return on equity of 104.40%. On average, sell-side analysts expect that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 3rd were given a dividend of $0.525 per share. The ex-dividend date was Monday, February 3rd. This represents a $2.10 dividend on an annualized basis and a yield of 8.85%. CrossAmerica Partners’s payout ratio is presently 403.85%.

Institutional Trading of CrossAmerica Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP purchased a new stake in CrossAmerica Partners in the fourth quarter valued at approximately $44,000. EverSource Wealth Advisors LLC grew its holdings in CrossAmerica Partners by 47.4% during the 4th 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 in the last quarter. Sonora Investment Management Group LLC acquired a new position in shares of CrossAmerica Partners during the fourth quarter worth $224,000. Franklin Resources Inc. purchased a new position in shares of CrossAmerica Partners in the 3rd quarter valued at about $279,000. Finally, Sanctuary Advisors LLC lifted its position in shares of CrossAmerica Partners by 5.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after buying an additional 1,000 shares during the last quarter. 24.06% of the stock is owned by institutional investors and hedge funds.

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.