CrossAmerica Partners (NYSE:CAPL) Shares Gap Up to $22.70

CrossAmerica Partners LP (NYSE:CAPL)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $22.70, but opened at $23.36. CrossAmerica Partners shares last traded at $23.34, with a volume of 14,226 shares traded.

Analyst Ratings Changes

Separately, TheStreet lowered CrossAmerica Partners from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th.

CrossAmerica Partners Price Performance

The stock has a market capitalization of $882.28 million, a price-to-earnings ratio of 21.74 and a beta of 1.53. The company has a quick ratio of 0.35, a current ratio of 0.67 and a debt-to-equity ratio of 250.71. The stock has a fifty day moving average of $22.29 and a 200-day moving average of $22.47.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Monday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. CrossAmerica Partners had a net margin of 0.93% and a return on equity of 197.82%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.11 billion. On average, equities research analysts predict that CrossAmerica Partners LP will post 0.95 EPS for the current fiscal year.

Institutional Trading of CrossAmerica Partners

Several institutional investors and hedge funds have recently made changes to their positions in CAPL. Mirae Asset Global Investments Co. Ltd. increased its position in CrossAmerica Partners by 4.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 646,510 shares of the oil and gas company’s stock worth $14,023,000 after buying an additional 24,730 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of CrossAmerica Partners during the third quarter worth approximately $205,000. Raymond James Financial Services Advisors Inc. grew its position in shares of CrossAmerica Partners by 3.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 198,611 shares of the oil and gas company’s stock worth $4,308,000 after acquiring an additional 6,651 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of CrossAmerica Partners by 24.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 21,350 shares of the oil and gas company’s stock valued at $463,000 after acquiring an additional 4,202 shares during the period. Finally, Tortoise Index Solutions LLC raised its position in CrossAmerica Partners by 12.9% in the 4th quarter. Tortoise Index Solutions LLC now owns 24,095 shares of the oil and gas company’s stock valued at $549,000 after purchasing an additional 2,745 shares during the last quarter. 24.06% of the stock is owned by hedge funds and other institutional investors.

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.