CrossAmerica Partners LP (NYSE:CAPL – Get Free Report) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $19.83 and traded as high as $20.60. CrossAmerica Partners shares last traded at $20.60, with a volume of 72,589 shares traded.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th.
Get Our Latest Stock Report on CrossAmerica Partners
CrossAmerica Partners Price Performance
CrossAmerica Partners Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.10 annualized dividend and a dividend yield of 10.19%. CrossAmerica Partners’s payout ratio is 344.26%.
Institutional Investors Weigh In On CrossAmerica Partners
Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of CrossAmerica Partners in the 1st quarter valued at approximately $31,000. EverSource Wealth Advisors LLC grew its position in CrossAmerica Partners by 376.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,000 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in CrossAmerica Partners during the first quarter worth $205,000. American Financial Group Inc. grew its stake in shares of CrossAmerica Partners by 3.7% in the first quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 500 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in shares of CrossAmerica Partners during the first quarter worth $325,000. 24.06% of the stock is currently owned by institutional investors and hedge funds.
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.
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