CrossAmerica Partners LP (NYSE:CAPL) Sees Significant Decrease in Short Interest

CrossAmerica Partners LP (NYSE:CAPL) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 76,100 shares, a decrease of 17.5% from the August 15th total of 92,200 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 34,800 shares, the days-to-cover ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded CrossAmerica Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 13th.

Institutional Investors Weigh In On CrossAmerica Partners

Several hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP increased its position in CrossAmerica Partners by 79.7% during the first quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock worth $830,000 after acquiring an additional 16,153 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of CrossAmerica Partners by 1.9% during the 1st quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock worth $706,000 after purchasing an additional 565 shares during the period. Tortoise Index Solutions LLC increased its holdings in shares of CrossAmerica Partners by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 24,095 shares of the oil and gas company’s stock worth $549,000 after purchasing an additional 2,745 shares during the period. Janney Montgomery Scott LLC raised its position in shares of CrossAmerica Partners by 10.0% during the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock valued at $470,000 after buying an additional 1,872 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of CrossAmerica Partners in the second quarter valued at about $348,000. 24.06% of the stock is owned by institutional investors.

CrossAmerica Partners Price Performance

Shares of CrossAmerica Partners stock opened at $21.21 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.37 and a debt-to-equity ratio of 250.71. The firm has a fifty day simple moving average of $19.89 and a 200-day simple moving average of $20.84. The stock has a market capitalization of $806.55 million, a price-to-earnings ratio of 34.77 and a beta of 1.51. CrossAmerica Partners has a 1-year low of $18.43 and a 1-year high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. The company had revenue of $1.13 billion during 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%. On average, sell-side analysts expect that CrossAmerica Partners will post 0.46 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 9.90%. The ex-dividend date of this dividend was Friday, August 2nd. CrossAmerica Partners’s dividend payout ratio (DPR) is currently 344.26%.

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.