CrossAmerica Partners (NYSE:CAPL) Upgraded 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 report sent to investors on Saturday.

CrossAmerica Partners Stock Performance

CrossAmerica Partners stock opened at $23.40 on Friday. The stock has a market capitalization of $890.60 million, a price-to-earnings ratio of 45.00 and a beta of 1.48. CrossAmerica Partners has a 52-week low of $18.43 and a 52-week high of $23.97. The stock’s 50 day moving average price is $22.64 and its two-hundred day moving average price is $21.51.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.38. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The business had revenue of $944.22 million during the quarter, compared to analysts’ expectations of $1.21 billion. On average, equities research analysts forecast that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 3rd were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $2.10 annualized dividend and a yield of 8.97%. CrossAmerica Partners’s payout ratio is 403.85%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its position in CrossAmerica Partners by 18.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock valued at $560,000 after buying an additional 4,267 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of CrossAmerica Partners by 5.7% in the third quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock valued at $377,000 after purchasing an additional 1,000 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of CrossAmerica Partners during the third quarter valued at about $279,000. JPMorgan Chase & Co. boosted its holdings in CrossAmerica Partners by 8.7% during the third quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock worth $7,485,000 after purchasing an additional 28,991 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in CrossAmerica Partners by 27.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,951 shares of the oil and gas company’s stock worth $637,000 after purchasing an additional 6,259 shares in the last quarter. 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.