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

CrossAmerica Partners LP (NYSE:CAPL) shares saw strong trading volume on Thursday . 30,920 shares traded hands during trading, a decline of 15% from the previous session’s volume of 36,186 shares.The stock last traded at $21.51 and had previously closed at $21.01.

Wall Street Analyst Weigh In

Separately, StockNews.com cut CrossAmerica Partners from a “strong-buy” rating to a “buy” rating in a research note on Sunday.

CrossAmerica Partners Stock Up 2.7 %

The stock has a 50 day simple moving average of $20.69 and a 200 day simple moving average of $20.62. The stock has a market cap of $820.62 million, a price-to-earnings ratio of 35.23 and a beta of 1.51.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in CrossAmerica Partners during the first quarter worth $31,000. EverSource Wealth Advisors LLC lifted its holdings in CrossAmerica Partners by 376.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,000 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in CrossAmerica Partners during the first quarter worth $205,000. American Financial Group Inc. lifted its holdings in CrossAmerica Partners by 3.7% during the first quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 500 shares during the period. Finally, SpiderRock Advisors LLC bought a new stake in CrossAmerica Partners during the first quarter worth $325,000. Hedge funds and other institutional investors 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.