CrossAmerica Partners (NYSE:CAPL) Stock Rating Lowered by Wall Street Zen

CrossAmerica Partners (NYSE:CAPL) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CrossAmerica Partners in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

CrossAmerica Partners Stock Performance

Shares of CAPL opened at $20.68 on Friday. CrossAmerica Partners has a 52-week low of $19.50 and a 52-week high of $25.73. The stock’s 50-day simple moving average is $20.61 and its 200 day simple moving average is $21.27. The stock has a market capitalization of $788.28 million, a price-to-earnings ratio of 18.30 and a beta of 0.47.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.08. CrossAmerica Partners had a negative return on equity of 32.78% and a net margin of 1.19%.The firm had revenue of $971.85 million for the quarter, compared to analysts’ expectations of $780.93 million. On average, research analysts forecast that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John B. Reilly III purchased 2,706 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $20.01 per share, with a total value of $54,147.06. Following the acquisition, the director directly owned 4,967,317 shares of the company’s stock, valued at approximately $99,396,013.17. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph V. Jr. Topper acquired 2,706 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $20.01 per share, with a total value of $54,147.06. Following the completion of the acquisition, the director directly owned 1,857,649 shares in the company, valued at $37,171,556.49. The trade was a 0.15% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 9,084 shares of company stock valued at $180,779. Corporate insiders own 52.00% of the company’s stock.

Institutional Investors Weigh In On CrossAmerica Partners

Several hedge funds have recently added to or reduced their stakes in CAPL. NewEdge Wealth LLC increased its position in shares of CrossAmerica Partners by 25.4% during the 3rd quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company’s stock valued at $1,859,000 after purchasing an additional 18,798 shares during the last quarter. Lee Financial Co bought a new stake in CrossAmerica Partners in the 3rd quarter worth approximately $379,000. Truist Financial Corp purchased a new stake in CrossAmerica Partners in the third quarter worth approximately $305,000. Quadrant Private Wealth Management LLC grew its position in CrossAmerica Partners by 0.5% during the third quarter. Quadrant Private Wealth Management LLC now owns 166,828 shares of the oil and gas company’s stock valued at $3,508,000 after acquiring an additional 837 shares during the last quarter. Finally, Outlook Wealth Advisors LLC grew its position in CrossAmerica Partners by 5.1% during the third quarter. Outlook Wealth Advisors LLC now owns 12,300 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 24.06% of the company’s stock.

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.