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 released on Friday morning.

CrossAmerica Partners Price Performance

NYSE CAPL traded up $0.01 during trading on Friday, reaching $20.15. 15,016 shares of the company’s stock traded hands, compared to its average volume of 36,568. The company’s 50 day simple moving average is $20.98 and its two-hundred day simple moving average is $20.39. CrossAmerica Partners has a 12-month low of $18.43 and a 12-month high of $24.19. The firm has a market cap of $766.71 million, a price-to-earnings ratio of 38.70 and a beta of 1.50.

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

CrossAmerica Partners Announces Dividend

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

Institutional Trading of CrossAmerica Partners

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of CrossAmerica Partners during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its holdings in CrossAmerica Partners by 376.6% during the second 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. B. Riley Wealth Advisors Inc. acquired a new position in CrossAmerica Partners in the first quarter valued at $205,000. IFG Advisory LLC purchased a new stake in CrossAmerica Partners in the second quarter valued at approximately $332,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of CrossAmerica Partners in the 2nd quarter valued at $348,000. 24.06% of the stock is owned by institutional investors and hedge funds.

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.