CrossAmerica Partners LP (CAPL) Receives $29.25 Average Target Price from Analysts
Shares of CrossAmerica Partners LP (NYSE:CAPL) have been given an average rating of “Hold” by the seven ratings firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $29.25.
A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of CrossAmerica Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Bank of America Corporation lowered shares of CrossAmerica Partners from a “buy” rating to a “neutral” rating and upped their target price for the stock from $28.00 to $30.00 in a research note on Wednesday, July 26th. Raymond James Financial, Inc. upped their target price on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd.
In other CrossAmerica Partners news, insider Jeremy Bergeron purchased 1,500 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $26.03 per share, with a total value of $39,045.00. Following the completion of the acquisition, the insider now directly owns 11,061 shares of the company’s stock, valued at approximately $287,917.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Reilly III purchased 1,602 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $25.91 per share, with a total value of $41,507.82. Following the completion of the acquisition, the director now directly owns 192,471 shares of the company’s stock, valued at $4,986,923.61. The disclosure for this purchase can be found here. Insiders purchased 53,102 shares of company stock valued at $1,380,553 over the last ninety days.
Institutional investors have recently made changes to their positions in the stock. OppenheimerFunds Inc. increased its position in shares of CrossAmerica Partners by 11.3% in the first quarter. OppenheimerFunds Inc. now owns 3,036,037 shares of the oil and gas company’s stock worth $79,483,000 after buying an additional 307,680 shares during the period. Northwestern Mutual Investment Management Company LLC acquired a new position in shares of CrossAmerica Partners during the second quarter worth about $3,365,000. Welch Capital Partners LLC NY increased its position in shares of CrossAmerica Partners by 67.5% in the second quarter. Welch Capital Partners LLC NY now owns 99,871 shares of the oil and gas company’s stock worth $2,547,000 after buying an additional 40,246 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of CrossAmerica Partners by 12.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 308,286 shares of the oil and gas company’s stock worth $7,861,000 after buying an additional 35,106 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of CrossAmerica Partners by 2.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,089,908 shares of the oil and gas company’s stock worth $27,793,000 after buying an additional 30,751 shares during the period. 37.10% of the stock is owned by hedge funds and other institutional investors.
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CrossAmerica Partners (NYSE CAPL) traded down 0.86% during mid-day trading on Friday, hitting $26.45. 27,629 shares of the stock were exchanged. The firm’s market cap is $886.71 million. The company has a 50 day moving average of $26.64 and a 200 day moving average of $25.66. CrossAmerica Partners has a 12-month low of $23.26 and a 12-month high of $29.80.
CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Monday, August 7th. The oil and gas company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.01. CrossAmerica Partners had a return on equity of 4.11% and a net margin of 0.06%. The firm had revenue of $528.79 million for the quarter, compared to analysts’ expectations of $596.92 million. On average, equities analysts anticipate that CrossAmerica Partners will post $0.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a $0.6225 dividend. This represents a $2.49 dividend on an annualized basis and a yield of 9.33%. This is an increase from CrossAmerica Partners’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, August 3rd. CrossAmerica Partners’s dividend payout ratio is -8,297.23%.
About CrossAmerica Partners
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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