CrossAmerica Partners (NYSE:CAPL) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of CrossAmerica Partners (NYSE:CAPL) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

CrossAmerica Partners Trading Down 1.0 %

Shares of NYSE:CAPL opened at $21.71 on Friday. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $24.19. The firm has a market cap of $825.57 million, a P/E ratio of 35.59 and a beta of 1.51. The company has a 50 day moving average of $20.50 and a 200-day moving average of $20.68.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Equities research analysts forecast that CrossAmerica Partners will post 0.46 EPS for the current year.

CrossAmerica Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a dividend of $0.525 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.67%. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 344.26%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors and hedge funds have recently modified their holdings of CAPL. Acadian Asset Management LLC purchased a new stake in CrossAmerica Partners in the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 2,000 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of CrossAmerica Partners in the first quarter worth $205,000. American Financial Group Inc. raised its holdings in shares of 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 in the last quarter. Finally, SpiderRock Advisors LLC acquired a new stake in CrossAmerica Partners during the first quarter valued at $325,000. 24.06% of the stock is owned by institutional investors and hedge funds.

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.