StockNews.com Downgrades CrossAmerica Partners (NYSE:CAPL) to Buy

StockNews.com lowered shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a research report released on Sunday.

CrossAmerica Partners Stock Up 0.1 %

CrossAmerica Partners stock opened at $23.57 on Friday. The stock has a market cap of $897.07 million, a PE ratio of 45.33 and a beta of 1.48. CrossAmerica Partners has a 12-month low of $18.43 and a 12-month high of $23.97. The business’s 50-day moving average price is $22.81 and its two-hundred day moving average price is $21.66.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.38. The company had revenue of $944.22 million for the quarter, compared to analyst estimates of $1.21 billion. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. As a group, analysts expect that CrossAmerica Partners will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.10 annualized dividend and a dividend yield of 8.91%. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 403.85%.

Institutional Investors Weigh In On CrossAmerica Partners

Several hedge funds have recently modified their holdings of CAPL. JPMorgan Chase & Co. increased its holdings in CrossAmerica Partners by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock worth $7,485,000 after purchasing an additional 28,991 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of CrossAmerica Partners during the third quarter worth about $279,000. Sanctuary Advisors LLC increased its stake in shares of CrossAmerica Partners by 5.7% in the third quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock valued at $377,000 after buying an additional 1,000 shares during the period. Allworth Financial LP acquired a new position in shares of CrossAmerica Partners in the fourth quarter valued at approximately $44,000. Finally, NewEdge Wealth LLC raised its holdings in CrossAmerica Partners by 112.7% in the 4th quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company’s stock valued at $1,567,000 after buying an additional 37,736 shares during the last quarter. Institutional investors and hedge funds own 24.06% of the company’s stock.

About CrossAmerica Partners

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.