CrossAmerica Partners (NYSE:CAPL) Stock Rating Upgraded by StockNews.com

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

CrossAmerica Partners Price Performance

NYSE:CAPL opened at $23.30 on Friday. CrossAmerica Partners has a one year low of $18.43 and a one year high of $25.73. The company has a market cap of $887.49 million, a PE ratio of 44.80 and a beta of 0.68. The firm has a 50-day moving average of $23.25 and a 200-day moving average of $22.36.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.14). The company had revenue of $862.48 million for the quarter, compared to the consensus estimate of $735.09 million. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. On average, equities research analysts expect that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date was Monday, May 5th. CrossAmerica Partners’s payout ratio is currently 262.50%.

Hedge Funds Weigh In On CrossAmerica Partners

Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in shares of CrossAmerica Partners by 27.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,951 shares of the oil and gas company’s stock valued at $637,000 after purchasing an additional 6,259 shares during the last quarter. Sonora Investment Management Group LLC bought a new stake in CrossAmerica Partners in the 4th quarter worth about $224,000. Quadrant Private Wealth Management LLC increased its stake in CrossAmerica Partners by 0.5% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 164,543 shares of the oil and gas company’s stock valued at $3,620,000 after buying an additional 775 shares during the last quarter. Allworth Financial LP bought a new position in shares of CrossAmerica Partners during the 4th quarter worth approximately $44,000. Finally, NewEdge Wealth LLC lifted its position in shares of 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 buying an additional 37,736 shares in the last quarter. 24.06% of the stock is owned by hedge funds and other institutional investors.

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.