CrossAmerica Partners (NYSE:CAPL) Stock Crosses Below 50 Day Moving Average – What’s Next?

Shares of CrossAmerica Partners LP (NYSE:CAPL) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $21.86 and traded as low as $21.58. CrossAmerica Partners shares last traded at $21.7860, with a volume of 41,560 shares trading hands.

Wall Street Analyst Weigh In

CAPL has been the subject of several recent analyst reports. Weiss Ratings raised shares of CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Zacks Research upgraded shares of CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy”.

CrossAmerica Partners Stock Performance

The stock has a fifty day simple moving average of $21.86 and a two-hundred day simple moving average of $21.59. The stock has a market cap of $830.70 million, a price-to-earnings ratio of 14.62 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.42. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%.The company had revenue of $841.83 million for the quarter, compared to analyst estimates of $697.31 million. Equities analysts expect that CrossAmerica Partners LP will post 0.93 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 4th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.10 annualized dividend and a yield of 9.6%. CrossAmerica Partners’s dividend payout ratio (DPR) is 140.94%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP raised its stake in CrossAmerica Partners by 22.9% during the third quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock worth $4,186,000 after acquiring an additional 37,093 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CrossAmerica Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock valued at $12,774,000 after purchasing an additional 27,767 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of CrossAmerica Partners in the 1st quarter valued at approximately $535,000. Raymond James Financial Inc. grew its holdings in shares of CrossAmerica Partners by 4.8% during the 3rd quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock valued at $6,272,000 after purchasing an additional 13,767 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of CrossAmerica Partners during the 1st quarter valued at approximately $278,000. Institutional investors and hedge funds own 24.06% of the company’s stock.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.