CrossAmerica Partners (NYSE:CAPL) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

by · The Cerbat Gem

CrossAmerica Partners LP (NYSE:CAPL – Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $20.87 and traded as high as $22.31. CrossAmerica Partners shares last traded at $22.2410, with a volume of 15,435 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CrossAmerica Partners in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Get Our Latest Research Report on CrossAmerica Partners

CrossAmerica Partners Trading Up 1.1%

The firm has a market cap of $847.83 million, a PE ratio of 18.53 and a beta of 0.35. The business’s 50-day simple moving average is $20.87 and its 200 day simple moving average is $20.78.

CrossAmerica Partners (NYSE:CAPL – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08. The firm had revenue of $971.85 million during the quarter, compared to analysts’ expectations of $780.93 million. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. Analysts expect that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Stockholders of record on Monday, February 2nd will be issued a $0.525 dividend. The ex-dividend date is Monday, February 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.4%. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 175.00%.

Institutional Investors Weigh In On CrossAmerica Partners

Hedge funds have recently made changes to their positions in the stock. Eastern Bank purchased a new position in CrossAmerica Partners in the third quarter valued at about $26,000. Outlook Wealth Advisors LLC boosted its holdings in shares of CrossAmerica Partners by 5.1% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 12,300 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 600 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of CrossAmerica Partners by 36.3% in the 2nd quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company’s stock worth $299,000 after buying an additional 3,812 shares during the last quarter. Truist Financial Corp purchased a new position in shares of CrossAmerica Partners in the 3rd quarter worth approximately $305,000. Finally, American Financial Group Inc. raised its stake in shares of CrossAmerica Partners by 3.4% during the 3rd quarter. American Financial Group Inc. now owns 15,000 shares of the oil and gas company’s stock worth $315,000 after acquiring an additional 500 shares in the last quarter. 24.06% of the stock is currently owned by hedge funds and other institutional investors.

CrossAmerica Partners Company Profile

(Get Free Report)

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.

Featured Stories