CrossAmerica Partners (NYSE:CAPL) Sees Strong Trading Volume – What’s Next?

Shares of CrossAmerica Partners LP (NYSE:CAPL) saw strong trading volume on Monday . 64,406 shares changed hands during trading, an increase of 108% from the previous session’s volume of 31,033 shares.The stock last traded at $20.4650 and had previously closed at $21.32.

Analysts Set New Price Targets

Several brokerages have commented on CAPL. Wall Street Zen downgraded CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note 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 investment analyst has rated the stock with a Sell rating, According to MarketBeat, CrossAmerica Partners currently has a consensus rating of “Sell”.

CrossAmerica Partners Trading Down 1.2%

The business’s 50 day simple moving average is $21.63 and its two-hundred day simple moving average is $20.98. The firm has a market capitalization of $764.08 million, a PE ratio of 16.70 and a beta of 0.37.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. As a group, equities research analysts anticipate that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 2nd were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.5%. CrossAmerica Partners’s payout ratio is currently 175.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAPL. First Trust Advisors LP increased its position in shares of CrossAmerica Partners by 22.9% during the third quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock worth $4,186,000 after purchasing an additional 37,093 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CrossAmerica Partners by 4.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock worth $12,774,000 after buying an additional 27,767 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of CrossAmerica Partners during the 1st quarter worth approximately $535,000. NewEdge Wealth LLC raised its position in shares of CrossAmerica Partners by 25.4% in the third quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company’s stock worth $1,859,000 after acquiring an additional 18,798 shares during the period. Finally, Lee Financial Co purchased a new stake in shares of CrossAmerica Partners in the third quarter valued at approximately $379,000. 24.06% of the stock is currently owned by institutional investors.

CrossAmerica Partners Company Profile

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.