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

Shares of CrossAmerica Partners LP (NYSE:CAPL) 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 report on Sunday.

CrossAmerica Partners Stock Up 2.7 %

The company has a 50-day moving average of $20.69 and a 200 day moving average of $20.62. The firm has a market capitalization of $820.62 million, a PE ratio of 35.23 and a beta of 1.51.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping 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. As a group, equities analysts anticipate that CrossAmerica Partners LP will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On CrossAmerica Partners

A number of hedge funds and other institutional investors have recently modified their holdings of CAPL. Acadian Asset Management LLC bought a new stake in shares of CrossAmerica Partners in the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC lifted its stake in shares of CrossAmerica Partners by 376.6% in 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 during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of CrossAmerica Partners in the 1st quarter valued at about $205,000. American Financial Group Inc. lifted its stake in shares of CrossAmerica Partners by 3.7% in the 1st quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 500 shares during the last quarter. Finally, SpiderRock Advisors LLC bought a new stake in shares of CrossAmerica Partners in the 1st quarter valued at about $325,000. 24.06% of the stock is currently owned by hedge funds and other institutional investors.

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.