CrossAmerica Partners (NYSE:CAPL) Lowered to “Buy” at StockNews.com

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

CrossAmerica Partners Stock Up 0.2 %

CAPL opened at $20.70 on Wednesday. CrossAmerica Partners has a fifty-two week low of $18.43 and a fifty-two week high of $24.19. The firm has a market capitalization of $787.16 million, a P/E ratio of 33.93 and a beta of 1.51. The company’s 50-day moving average is $20.10 and its 200 day moving average is $20.79. The company has a debt-to-equity ratio of 250.71, a current ratio of 0.76 and a quick ratio of 0.37.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.06 by $0.10. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.27 billion. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. Research analysts expect that CrossAmerica Partners will post 0.46 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.14%. The ex-dividend date was Friday, August 2nd. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 344.26%.

Institutional Trading of CrossAmerica Partners

Several hedge funds have recently added to or reduced their stakes in CAPL. Sanctuary Advisors LLC bought a new position in shares of CrossAmerica Partners during the 2nd quarter valued at approximately $348,000. IFG Advisory LLC purchased a new position in CrossAmerica Partners in the second quarter valued at approximately $332,000. GSA Capital Partners LLP lifted its stake in CrossAmerica Partners by 79.7% in the first quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock valued at $830,000 after purchasing an additional 16,153 shares during the last quarter. SpiderRock Advisors LLC bought a new position in CrossAmerica Partners during the first quarter valued at $325,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in CrossAmerica Partners in the first quarter worth $205,000. Institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

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.