CrossAmerica Partners (NYSE:CAPL) Cut to Buy at StockNews.com

StockNews.com cut shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday.

CrossAmerica Partners Stock Performance

CAPL stock opened at $20.70 on Wednesday. The firm has a market cap of $787.16 million, a PE ratio of 33.93 and a beta of 1.51. 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 stock has a 50-day moving average price of $20.10 and a 200-day moving average price of $20.79. CrossAmerica Partners has a 1-year low of $18.43 and a 1-year high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.27 billion. CrossAmerica Partners had a negative return on equity of 314.20% and a net margin of 0.51%. As a group, equities research analysts expect that CrossAmerica Partners will post 0.46 earnings per share for the current year.

CrossAmerica Partners Dividend Announcement

The business also recently declared 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 10.14%. The ex-dividend date of this dividend was Friday, August 2nd. CrossAmerica Partners’s payout ratio is 344.26%.

Hedge Funds Weigh In On CrossAmerica Partners

Several institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in CrossAmerica Partners in the 2nd quarter valued at about $348,000. IFG Advisory LLC acquired a new position in shares of CrossAmerica Partners during the second quarter worth approximately $332,000. GSA Capital Partners LLP raised its position in shares of 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 purchasing an additional 16,153 shares during the period. SpiderRock Advisors LLC bought a new position in shares of CrossAmerica Partners in the 1st quarter worth $325,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in CrossAmerica Partners in the 1st quarter valued at $205,000. Institutional investors and hedge funds 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.