CrossAmerica Partners (NYSE:CAPL) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

CrossAmerica Partners LP (NYSE:CAPL) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $22.65 and traded as low as $22.42. CrossAmerica Partners shares last traded at $22.46, with a volume of 29,054 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research raised shares of CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of CrossAmerica Partners in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

CrossAmerica Partners Stock Down 0.5%

The business’s 50-day moving average price is $22.65 and its 200 day moving average price is $22.06. The company has a market capitalization of $846.75 million, a P/E ratio of 16.19 and a beta of 0.30.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $731.45 million. Analysts anticipate that CrossAmerica Partners LP will post 1.18 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.10 annualized dividend and a dividend yield of 9.5%. CrossAmerica Partners’s dividend payout ratio is presently 153.28%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors and hedge funds have recently made changes to their positions in CAPL. NewEdge Advisors LLC raised its position in CrossAmerica Partners by 40.0% during the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 600 shares in the last quarter. NewEdge Wealth LLC lifted its stake in CrossAmerica Partners by 1.3% during the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock worth $1,953,000 after purchasing an additional 1,213 shares during the last quarter. ING Groep NV boosted its holdings in shares of CrossAmerica Partners by 30.8% in the 4th quarter. ING Groep NV now owns 17,000 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 4,000 shares in the last quarter. North Star Investment Management Corp. purchased a new position in shares of CrossAmerica Partners in the 1st quarter worth about $105,000. Finally, Motiv8 Investments LLC purchased a new position in shares of CrossAmerica Partners in the 4th quarter worth about $193,000. Hedge funds and other institutional investors own 24.06% of the company’s stock.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the downstream energy sector. The company distributes motor fuels, including gasoline and diesel, through a network of terminals, transportation assets and supply relationships.

CrossAmerica supplies fuel to independently operated gasoline stations, convenience stores, commercial customers and other wholesale purchasers. It also owns or leases certain retail fuel and convenience-store properties, where it may support site operations through fuel supply agreements, leases and related services.

Founded in 2012, CrossAmerica serves customers across multiple regions of the United States.