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 report sent to investors on Wednesday morning.

CrossAmerica Partners Stock Performance

CAPL stock opened at $19.69 on Wednesday. The company’s 50 day moving average price is $20.93 and its 200 day moving average price is $20.50. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $24.19. The firm has a market capitalization of $748.81 million, a price-to-earnings ratio of 37.87 and a beta of 1.50.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 150.01%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.27 billion. Equities analysts forecast that CrossAmerica Partners will post 0.46 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.10 annualized dividend and a yield of 10.67%. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Several hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its stake in CrossAmerica Partners by 79.7% in the first quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock valued at $830,000 after purchasing an additional 16,153 shares during the last quarter. BNP Paribas Financial Markets increased its stake in CrossAmerica Partners by 1.9% in the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock valued at $706,000 after purchasing an additional 565 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in CrossAmerica Partners by 18.8% in the third quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 4,267 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in 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 last quarter. Finally, Sanctuary Advisors LLC purchased a new position in CrossAmerica Partners in the second quarter valued at approximately $348,000. 24.06% of the stock is currently owned by hedge funds and other institutional investors.

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.