CrossAmerica Partners (NYSE:CAPL) Stock Crosses Above Fifty Day Moving Average – What’s Next?

CrossAmerica Partners LP (NYSE:CAPL)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $21.61 and traded as high as $22.99. CrossAmerica Partners shares last traded at $22.7610, with a volume of 43,086 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, Zacks Research downgraded shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, CrossAmerica Partners presently has a consensus rating of “Hold”.

CrossAmerica Partners Trading Up 0.0%

The business’s 50-day moving average is $21.61 and its two-hundred day moving average is $21.41. The firm has a market cap of $867.88 million, a P/E ratio of 15.28 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.42. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. The business had revenue of $841.83 million during the quarter, compared to the consensus estimate of $697.31 million. On average, analysts anticipate that CrossAmerica Partners LP will post 0.93 earnings per share for the current year.

CrossAmerica Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 4th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend was Monday, May 4th. CrossAmerica Partners’s dividend payout ratio is currently 140.94%.

Institutional Investors Weigh In On CrossAmerica Partners

Institutional investors have recently modified their holdings of the business. CWM LLC grew its position in CrossAmerica Partners by 35.5% in the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 887 shares during the last quarter. North Star Investment Management Corp. bought a new position in CrossAmerica Partners in the 1st quarter worth about $105,000. Wells Fargo & Company MN grew its position in CrossAmerica Partners by 43.3% in the 4th quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 1,869 shares during the last quarter. Royal Bank of Canada grew its position in CrossAmerica Partners by 48.7% in the 4th quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 2,422 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new position in CrossAmerica Partners in the 4th quarter worth about $193,000. Institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.