CrossAmerica Partners (NYSE:CAPL) Downgraded to “Buy” at StockNews.com

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

CrossAmerica Partners Trading Down 0.9 %

NYSE:CAPL opened at $20.55 on Wednesday. CrossAmerica Partners has a one year low of $18.43 and a one year high of $24.19. The business has a fifty day moving average price of $20.06 and a 200-day moving average price of $20.80. The firm has a market capitalization of $781.52 million, a price-to-earnings ratio of 33.69 and a beta of 1.51. The company has a debt-to-equity ratio of 250.71, a current ratio of 0.76 and a quick ratio of 0.37.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 EPS for the quarter, topping 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%. Sell-side analysts forecast that CrossAmerica Partners will post 0.46 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were paid a $0.525 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.22%. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 344.26%.

Institutional Inflows and Outflows

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