CrossAmerica Partners (NYSE:CAPL) Rating Increased to Strong-Buy 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 published on Saturday morning.

CrossAmerica Partners Price Performance

Shares of CAPL stock opened at $23.34 on Friday. CrossAmerica Partners has a 1 year low of $18.43 and a 1 year high of $23.97. The stock’s 50 day simple moving average is $22.60 and its two-hundred day simple moving average is $21.48. The company has a market cap of $888.13 million, a PE ratio of 44.88 and a beta of 1.48.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.38. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The firm had revenue of $944.22 million for the quarter, compared to the consensus estimate of $1.21 billion. Equities research analysts expect that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 3rd were paid a $0.525 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.10 annualized dividend and a yield of 9.00%. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 403.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 worth $12,494,000 after purchasing an additional 28,758 shares in the last quarter. Stifel Financial Corp grew its stake in CrossAmerica Partners by 5.8% in the fourth quarter. Stifel Financial Corp now owns 44,469 shares of the oil and gas company’s stock worth $978,000 after purchasing an additional 2,423 shares in the last quarter. Raymond James Financial Inc. bought a new position in CrossAmerica Partners in the fourth quarter worth approximately $6,245,000. CIBC Private Wealth Group LLC grew its stake in CrossAmerica Partners by 4.1% in 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 in the last quarter. Finally, LPL Financial LLC grew its stake in 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 in the last quarter. 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.