CrossAmerica Partners (NYSE:CAPL) Reaches New 52-Week High – Here’s Why

CrossAmerica Partners LP (NYSE:CAPL)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $24.97 and last traded at $24.56, with a volume of 60260 shares changing hands. The stock had previously closed at $24.33.

Analysts Set New Price Targets

Separately, StockNews.com raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 24th.

CrossAmerica Partners Stock Up 0.9 %

The firm has a market cap of $934.56 million, a P/E ratio of 47.22 and a beta of 1.48. The business has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $21.91.

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 (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.38. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The company had revenue of $944.22 million during the quarter, compared to analyst estimates of $1.21 billion. On average, sell-side analysts anticipate that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The business also recently declared 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 of this dividend was Monday, February 3rd. This represents a $2.10 annualized dividend and a dividend yield of 8.55%. CrossAmerica Partners’s payout ratio is currently 403.85%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new position in shares of CrossAmerica Partners during the fourth quarter valued at $44,000. EverSource Wealth Advisors LLC grew its position in CrossAmerica Partners by 47.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,731 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 1,200 shares during the last quarter. Sonora Investment Management Group LLC bought a new stake in CrossAmerica Partners during the 4th quarter valued at about $224,000. Franklin Resources Inc. purchased a new position in CrossAmerica Partners in the third quarter worth about $279,000. Finally, Sanctuary Advisors LLC lifted its stake in shares of CrossAmerica Partners by 5.7% in the third quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other 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.