CrossAmerica Partners (NYSE:CAPL) Upgraded at StockNews.com

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

CrossAmerica Partners Stock Up 2.1 %

NYSE:CAPL opened at $24.40 on Monday. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $24.50. The stock’s 50-day simple moving average is $22.99 and its 200 day simple moving average is $21.82. The firm has a market capitalization of $928.47 million, a PE ratio of 46.91 and a beta of 1.48.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.38. The business had revenue of $944.22 million during the quarter, compared to analysts’ expectations of $1.21 billion. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. On average, analysts anticipate that CrossAmerica Partners will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The company also recently disclosed 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 8.61%. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

Institutional Trading of CrossAmerica Partners

A number of hedge funds have recently made changes to their positions in CAPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CrossAmerica Partners by 5.3% in the fourth 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 buying an additional 28,758 shares during the period. Stifel Financial Corp increased its position in CrossAmerica Partners by 5.8% in the 4th quarter. Stifel Financial Corp now owns 44,469 shares of the oil and gas company’s stock valued at $978,000 after acquiring an additional 2,423 shares during the period. Raymond James Financial Inc. bought a new position in shares of CrossAmerica Partners during the fourth quarter valued at $6,245,000. CIBC Private Wealth Group LLC lifted its holdings in shares of CrossAmerica Partners by 4.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 25,500 shares of the oil and gas company’s stock worth $561,000 after purchasing an additional 1,000 shares during the period. Finally, LPL Financial LLC grew its stake in shares of CrossAmerica Partners by 6.2% in the fourth quarter. LPL Financial LLC now owns 107,405 shares of the oil and gas company’s stock worth $2,363,000 after purchasing an additional 6,306 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.