CrossAmerica Partners (NYSE:CAPL) Stock Rating Cut to “Hold” at Zacks Research

Zacks Research cut shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of CrossAmerica Partners in a research note on Tuesday, September 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

CrossAmerica Partners Stock Performance

CAPL opened at $21.56 on Monday. The stock has a fifty day moving average of $22.51 and a 200-day moving average of $22.09. CrossAmerica Partners has a fifty-two week low of $19.67 and a fifty-two week high of $24.63. The company has a market capitalization of $823.16 million, a P/E ratio of 15.74 and a beta of 0.34.

CrossAmerica Partners (NYSE:CAPL) last announced its 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 analyst estimates of $731.45 million. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. On average, equities research analysts predict that CrossAmerica Partners will post 1.18 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd were paid a $0.5250 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.10 annualized dividend and a dividend yield of 9.7%. CrossAmerica Partners’s dividend payout ratio is presently 153.28%.

Institutional Investors Weigh In On CrossAmerica Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its position in CrossAmerica Partners by 5.9% in the 1st quarter. First Trust Advisors LP now owns 190,006 shares of the oil and gas company’s stock valued at $3,948,000 after purchasing an additional 10,640 shares during the period. NewEdge Wealth LLC boosted its holdings in shares of CrossAmerica Partners by 1.3% in the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock worth $1,953,000 after acquiring an additional 1,213 shares during the period. Outlook Wealth Advisors LLC grew its position in shares of CrossAmerica Partners by 80.9% during the 1st quarter. Outlook Wealth Advisors LLC now owns 22,250 shares of the oil and gas company’s stock valued at $462,000 after purchasing an additional 9,950 shares in the last quarter. ING Groep NV grew its holdings in shares of CrossAmerica Partners by 30.8% during the fourth quarter. ING Groep NV now owns 17,000 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in CrossAmerica Partners in the 1st quarter worth approximately $278,000. Institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership that distributes motor fuels and owns, leases, and operates energy-related infrastructure. The company supplies branded and unbranded gasoline and diesel fuel to independent dealers, commercial customers, and other retail and wholesale markets.

Its assets and operations include fuel terminals, storage facilities, pipelines, transportation equipment, and retail sites such as convenience stores and gas stations.