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

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

CrossAmerica Partners Stock Performance

CrossAmerica Partners stock opened at $21.10 on Friday. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $24.19. The firm has a market cap of $802.37 million, a PE ratio of 34.59 and a beta of 1.51. The firm’s 50 day moving average price is $20.61 and its two-hundred day moving average price is $20.66.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.27 billion. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. Equities analysts anticipate that CrossAmerica Partners will post 0.46 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were paid a $0.525 dividend. The ex-dividend date was Friday, August 2nd. This represents a $2.10 annualized dividend and a dividend yield of 9.95%. CrossAmerica Partners’s payout ratio is 344.26%.

Institutional Trading of CrossAmerica Partners

A number of institutional investors have recently added to or reduced their stakes in CAPL. SpiderRock Advisors LLC bought a new position in shares of CrossAmerica Partners during the 1st quarter valued at $325,000. BNP Paribas Financial Markets raised its holdings in CrossAmerica Partners by 1.9% during the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock valued at $706,000 after buying an additional 565 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in CrossAmerica Partners by 10.0% during the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock valued at $470,000 after buying an additional 1,872 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of CrossAmerica Partners by 79.7% in the first quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock worth $830,000 after buying an additional 16,153 shares during the last quarter. Finally, American Financial Group Inc. boosted its stake in shares of CrossAmerica Partners by 3.7% during the 1st quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 500 shares in the last quarter. 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.