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 research note issued to investors on Monday morning.

CrossAmerica Partners Price Performance

Shares of NYSE CAPL opened at $21.34 on Monday. CrossAmerica Partners has a 1-year low of $18.43 and a 1-year high of $24.19. The business’s 50 day moving average is $20.85 and its two-hundred day moving average is $20.57. The stock has a market capitalization of $811.50 million, a P/E ratio of 34.98 and a beta of 1.51.

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

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Monday, November 4th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 9.84%. The ex-dividend date is Monday, November 4th. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 344.26%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of CrossAmerica Partners during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its position in shares of CrossAmerica Partners by 376.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,000 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of CrossAmerica Partners during the first quarter valued at $205,000. American Financial Group Inc. boosted its stake in shares of CrossAmerica Partners by 3.7% during the first quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 500 shares during the period. Finally, SpiderRock Advisors LLC bought a new position in shares of CrossAmerica Partners in the first quarter worth about $325,000. 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.