CrossAmerica Partners (NYSE:CAPL) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

CrossAmerica Partners LP (NYSE:CAPL) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $21.61 and traded as high as $22.99. CrossAmerica Partners shares last traded at $22.7610, with a volume of 43,086 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CAPL shares. Weiss Ratings upgraded CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Zacks Research upgraded CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CrossAmerica Partners has an average rating of “Buy”.

CrossAmerica Partners Stock Down 1.7%

The business has a 50-day moving average price of $21.61 and a 200-day moving average price of $21.42. The firm has a market capitalization of $827.23 million, a P/E ratio of 14.56 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.42. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%.The firm had revenue of $841.83 million for the quarter, compared to analysts’ expectations of $697.31 million. As a group, sell-side analysts forecast that CrossAmerica Partners LP will post 0.93 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 4th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date was Monday, May 4th. CrossAmerica Partners’s dividend payout ratio is 140.94%.

Institutional Trading of CrossAmerica Partners

A number of large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 valued at $12,774,000 after acquiring an additional 27,767 shares during the period. Raymond James Financial Inc. grew its position in CrossAmerica Partners by 4.8% in the third quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock valued at $6,272,000 after acquiring an additional 13,767 shares during the period. First Trust Advisors LP boosted its stake in CrossAmerica Partners by 22.9% in 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. LPL Financial LLC boosted its stake in CrossAmerica Partners by 5.8% in the fourth quarter. LPL Financial LLC now owns 119,713 shares of the oil and gas company’s stock worth $2,466,000 after purchasing an additional 6,614 shares in the last quarter. Finally, Mariner LLC boosted its stake in CrossAmerica Partners by 7.5% in the third quarter. Mariner LLC now owns 107,873 shares of the oil and gas company’s stock worth $2,269,000 after purchasing an additional 7,481 shares in the last quarter. 24.06% of the stock is currently owned by institutional investors.

About CrossAmerica Partners

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.