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

CrossAmerica Partners LP (NYSE:CAPL) shares saw an uptick in trading volume on Monday . 64,467 shares changed hands during trading, an increase of 40% from the previous session’s volume of 46,150 shares.The stock last traded at $24.1750 and had previously closed at $23.60.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CAPL shares. Wall Street Zen raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings raised CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Zacks Research upgraded CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

CrossAmerica Partners Price Performance

The company has a market capitalization of $927.03 million, a price-to-earnings ratio of 17.73 and a beta of 0.29. The stock has a fifty day simple moving average of $22.19 and a 200-day simple moving average of $21.89.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $731.45 million. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. As a group, equities analysts expect that CrossAmerica Partners LP will post 1.2 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were given a dividend of $0.525 per share. The ex-dividend date was Monday, August 3rd. This represents a $2.10 dividend on an annualized basis and a yield of 8.6%. CrossAmerica Partners’s dividend payout ratio is currently 153.28%.

Institutional Trading of CrossAmerica Partners

Several institutional investors have recently modified their holdings of CAPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 worth $12,774,000 after buying an additional 27,767 shares during the last quarter. Raymond James Financial Inc. lifted its stake in CrossAmerica Partners by 4.8% in the 3rd quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock worth $6,272,000 after purchasing an additional 13,767 shares in the last quarter. First Trust Advisors LP lifted its stake in CrossAmerica Partners by 22.9% in the 3rd quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock worth $4,186,000 after purchasing an additional 37,093 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of CrossAmerica Partners by 5.8% during the 4th quarter. LPL Financial LLC now owns 119,713 shares of the oil and gas company’s stock worth $2,466,000 after purchasing an additional 6,614 shares during the last quarter. Finally, Mariner LLC boosted its holdings in shares of CrossAmerica Partners by 7.5% during the 3rd quarter. Mariner LLC now owns 107,873 shares of the oil and gas company’s stock worth $2,269,000 after purchasing an additional 7,481 shares during the last quarter. 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.