CrossAmerica Partners (NYSE:CAPL) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

CrossAmerica Partners LP (NYSE:CAPL) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $21.08 and traded as high as $22.92. CrossAmerica Partners shares last traded at $22.7640, with a volume of 22,177 shares changing hands.

Wall Street Analyst Weigh In

CAPL has been the subject of a number of research reports. Wall Street Zen cut shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CrossAmerica Partners in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

CrossAmerica Partners Trading Up 0.9%

The stock has a market cap of $867.76 million, a price-to-earnings ratio of 18.97 and a beta of 0.35. The stock’s 50 day moving average is $21.08 and its two-hundred day moving average is $20.86.

CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. The business had revenue of $971.85 million during the quarter, compared to analysts’ expectations of $780.93 million. On average, sell-side analysts predict that CrossAmerica Partners LP will post 0.42 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Monday, February 2nd will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 9.2%. The ex-dividend date is Monday, February 2nd. CrossAmerica Partners’s dividend payout ratio (DPR) is 175.00%.

Institutional Investors Weigh In On CrossAmerica Partners

Several large investors have recently modified their holdings of CAPL. Eastern Bank purchased a new position in CrossAmerica Partners in the 3rd quarter valued at $26,000. CWM LLC lifted its stake in shares of CrossAmerica Partners by 35.5% in the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock worth $70,000 after acquiring an additional 887 shares during the period. Outlook Wealth Advisors LLC boosted its holdings in shares of CrossAmerica Partners by 5.1% in the third quarter. Outlook Wealth Advisors LLC now owns 12,300 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 600 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of CrossAmerica Partners by 36.3% in the second quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 3,812 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in CrossAmerica Partners during the third quarter worth about $305,000. Hedge funds and other institutional investors 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.