CrossAmerica Partners (NYSE:CAPL) Sees Large Volume Increase – Here’s Why

Shares of CrossAmerica Partners LP (NYSE:CAPL) saw an uptick in trading volume on Monday . 46,329 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 36,186 shares.The stock last traded at $21.31 and had previously closed at $20.65.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

CrossAmerica Partners Stock Up 2.2 %

The firm has a market cap of $803.24 million, a P/E ratio of 39.71 and a beta of 1.50. The firm’s fifty day moving average is $20.85 and its two-hundred day moving average is $20.30.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.28 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, sell-side analysts forecast that CrossAmerica Partners LP will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 9.95%. The ex-dividend date of this dividend was Monday, November 4th. CrossAmerica Partners’s dividend payout ratio (DPR) is 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in shares of CrossAmerica Partners by 376.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 2,000 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in CrossAmerica Partners in the 1st quarter worth approximately $205,000. Franklin Resources Inc. bought a new position in CrossAmerica Partners in the 3rd quarter worth approximately $279,000. IFG Advisory LLC bought a new position in CrossAmerica Partners in the 2nd quarter worth approximately $332,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of CrossAmerica Partners during the 2nd quarter worth approximately $348,000. Hedge funds and other 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.