CrossAmerica Partners (NYSE:CAPL) Upgraded 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 Friday morning.

CrossAmerica Partners Trading Up 0.0 %

NYSE:CAPL traded up $0.01 on Friday, hitting $20.15. 15,016 shares of the stock were exchanged, compared to its average volume of 36,568. The stock has a market cap of $766.71 million, a PE ratio of 38.70 and a beta of 1.50. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $24.19. The stock has a fifty day moving average of $20.98 and a 200-day moving average of $20.39.

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

CrossAmerica Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, November 4th. This represents a $2.10 dividend on an annualized basis and a yield of 10.42%. CrossAmerica Partners’s dividend payout ratio (DPR) is 403.85%.

Institutional Investors Weigh In On CrossAmerica Partners

Several hedge funds and other institutional investors have recently modified their holdings of CAPL. Acadian Asset Management LLC acquired a new stake in CrossAmerica Partners in the first quarter worth $31,000. B. Riley Wealth Advisors Inc. bought a new position in CrossAmerica Partners in the 1st quarter worth about $205,000. Janney Montgomery Scott LLC increased its stake in shares of CrossAmerica Partners by 10.0% in the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock valued at $470,000 after purchasing an additional 1,872 shares during the period. BNP Paribas Financial Markets boosted its position in shares of CrossAmerica Partners by 1.9% during the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock worth $706,000 after buying an additional 565 shares during the period. Finally, IFG Advisory LLC acquired a new stake in CrossAmerica Partners in the 2nd quarter valued at approximately $332,000. 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.