CrossAmerica Partners (NYSE:CAPL) Shares Gap Up After Analyst Upgrade

CrossAmerica Partners LP (NYSE:CAPL)’s share price gapped up prior to trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $20.18, but opened at $20.99. CrossAmerica Partners shares last traded at $20.6350, with a volume of 4,025 shares traded.

CAPL has been the topic of a number of other reports. Wall Street Zen upgraded shares of CrossAmerica Partners from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings raised shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Institutional Investors Weigh In On CrossAmerica Partners

Hedge funds have recently modified their holdings of the stock. Eastern Bank acquired a new position in CrossAmerica Partners during the third quarter worth approximately $26,000. CWM LLC boosted its holdings in shares of CrossAmerica Partners by 35.5% in the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 887 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of CrossAmerica Partners by 43.3% during the 4th quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 1,869 shares during the period. Royal Bank of Canada increased its holdings in shares of CrossAmerica Partners by 48.7% during the 4th quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock worth $153,000 after buying an additional 2,422 shares during the last quarter. Finally, Motiv8 Investments LLC purchased a new position in shares of CrossAmerica Partners in the 4th quarter worth $193,000. 24.06% of the stock is owned by institutional investors and hedge funds.

CrossAmerica Partners Stock Up 2.2%

The stock has a fifty day moving average of $21.60 and a two-hundred day moving average of $20.99. The stock has a market cap of $813.61 million, a price-to-earnings ratio of 20.71 and a beta of 0.39.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $748.01 million. CrossAmerica Partners had a negative return on equity of 9.43% and a net margin of 1.14%. Equities research analysts anticipate that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 2nd were issued a $0.525 dividend. The ex-dividend date was Monday, February 2nd. This represents a $2.10 annualized dividend and a yield of 9.8%. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 203.88%.

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.