CrossAmerica Partners LP (NYSE:CAPL) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of CrossAmerica Partners LP (NYSE:CAPL) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 361,231 shares of the oil and gas company’s stock after buying an additional 28,991 shares during the quarter. JPMorgan Chase & Co.’s holdings in CrossAmerica Partners were worth $7,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CAPL. Thrivent Financial for Lutherans boosted its holdings in CrossAmerica Partners by 18.8% in the third quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock worth $560,000 after acquiring an additional 4,267 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of CrossAmerica Partners by 5.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock valued at $377,000 after purchasing an additional 1,000 shares during the last quarter. Franklin Resources Inc. acquired a new stake in CrossAmerica Partners in the 3rd quarter worth approximately $279,000. Finally, EverSource Wealth Advisors LLC boosted its stake in CrossAmerica Partners by 376.6% in the 2nd 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 in the last quarter. 24.06% of the stock is owned by institutional investors and hedge funds.

CrossAmerica Partners Stock Performance

Shares of CAPL opened at $22.62 on Wednesday. The stock has a 50-day moving average of $21.17 and a two-hundred day moving average of $20.66. CrossAmerica Partners LP has a one year low of $18.43 and a one year high of $24.19. The stock has a market cap of $860.62 million, a P/E ratio of 43.50 and a beta of 1.46.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business posted $0.31 earnings per share. Analysts predict that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Monday, November 4th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 9.28%. The ex-dividend date was Monday, November 4th. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 403.85%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

CrossAmerica Partners 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.