Crossamerica Partners LP (NYSE:CAPL) declared a quarterly dividend on Thursday, July 23rd, Zacks reports. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.525 per share by the oil and gas company on Tuesday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 14.11%. The ex-dividend date is Monday, August 3rd.
Crossamerica Partners has decreased its dividend by an average of 12.5% annually over the last three years. Crossamerica Partners has a payout ratio of 104.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Crossamerica Partners to earn $0.44 per share next year, which means the company may not be able to cover its $2.10 annual dividend with an expected future payout ratio of 477.3%.
NYSE:CAPL opened at $14.88 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 4.80. Crossamerica Partners has a twelve month low of $6.81 and a twelve month high of $19.79. The stock’s 50 day moving average price is $13.83 and its two-hundred day moving average price is $14.52. The firm has a market capitalization of $562.31 million, a price-to-earnings ratio of 28.02 and a beta of 2.25.
Crossamerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, May 6th. The oil and gas company reported $2.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $1.88. Crossamerica Partners had a return on equity of 18.35% and a net margin of 4.33%. The company had revenue of $391.70 million during the quarter, compared to the consensus estimate of $653.10 million. As a group, analysts anticipate that Crossamerica Partners will post 0.1 earnings per share for the current year.
Several brokerages have recently commented on CAPL. Zacks Investment Research upgraded Crossamerica Partners from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, July 24th. Wells Fargo & Co lifted their target price on Crossamerica Partners from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th.
About Crossamerica Partners
CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. The company 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.
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