CrossAmerica Partners (NYSE:CAPL) Sees Large Volume Increase – What’s Next?

CrossAmerica Partners LP (NYSE:CAPL) shares saw an uptick in trading volume on Monday . 46,329 shares were traded during trading, an increase of 28% from the previous session’s volume of 36,186 shares.The stock last traded at $21.31 and had previously closed at $20.65.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

CrossAmerica Partners Trading Up 2.2 %

The company has a 50 day moving average price of $20.85 and a 200-day moving average price of $20.30. The company has a market cap of $803.24 million, a P/E ratio of 39.71 and a beta of 1.50.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business 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 quarter in the previous year, the company posted $0.31 EPS. Equities analysts expect that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.10 annualized dividend and a dividend yield of 9.95%. CrossAmerica Partners’s payout ratio is presently 403.85%.

Institutional Trading of CrossAmerica Partners

A number of institutional investors have recently modified their holdings of CAPL. EverSource Wealth Advisors LLC lifted its holdings 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 worth $51,000 after purchasing an additional 2,000 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in CrossAmerica Partners during the first quarter valued at approximately $205,000. Franklin Resources Inc. bought a new stake in CrossAmerica Partners during the 3rd quarter worth approximately $279,000. IFG Advisory LLC bought a new position in CrossAmerica Partners in the 2nd quarter valued at $332,000. Finally, Sanctuary Advisors LLC bought a new position in shares of CrossAmerica Partners in the second quarter worth $348,000. 24.06% of the stock is currently owned by hedge funds and other institutional investors.

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.