CrossAmerica Partners (NYSE:CAPL) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of CrossAmerica Partners (NYSE:CAPL) from a buy rating to a strong-buy rating in a report issued on Friday.

CrossAmerica Partners Price Performance

NYSE CAPL opened at $20.15 on Friday. The company’s fifty day moving average price is $20.98 and its two-hundred day moving average price is $20.35. CrossAmerica Partners has a 12 month low of $18.43 and a 12 month high of $24.19. The company has a market capitalization of $766.65 million, a price-to-earnings ratio of 38.75 and a beta of 1.50.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.31 EPS. As a group, analysts anticipate 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 Wednesday, November 13th. Stockholders of record on Monday, November 4th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.42%. The ex-dividend date was Monday, November 4th. CrossAmerica Partners’s payout ratio is 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new stake in shares of CrossAmerica Partners in the 1st quarter valued at approximately $31,000. B. Riley Wealth Advisors Inc. bought a new position in CrossAmerica Partners during the first quarter worth about $205,000. Janney Montgomery Scott LLC increased its position in shares of CrossAmerica Partners by 10.0% during the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 1,872 shares in the last quarter. BNP Paribas Financial Markets boosted its position in CrossAmerica Partners by 1.9% during the 1st quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock worth $706,000 after acquiring an additional 565 shares during the last quarter. Finally, IFG Advisory LLC bought a new stake in CrossAmerica Partners during the second quarter worth about $332,000. Institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company 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.