CrossAmerica Partners (NYSE:CAPL) Stock Passes Above 50-Day Moving Average – Time to Sell?

CrossAmerica Partners LP (NYSE:CAPL)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $21.88 and traded as high as $22.14. CrossAmerica Partners shares last traded at $21.95, with a volume of 16,574 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research raised CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 2nd. Wall Street Zen raised CrossAmerica Partners from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings raised shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, CrossAmerica Partners currently has a consensus rating of “Buy”.

CrossAmerica Partners Price Performance

The stock has a market cap of $837.30 million, a price-to-earnings ratio of 21.32 and a beta of 0.39. The firm’s fifty day moving average price is $21.90 and its two-hundred day moving average price is $21.09.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.05 by $0.11. CrossAmerica Partners had a negative return on equity of 9.43% and a net margin of 1.14%.The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $748.01 million. On average, equities research analysts anticipate that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.525 per share. The ex-dividend date was Monday, February 2nd. This represents a $2.10 annualized dividend and a dividend yield of 9.6%. CrossAmerica Partners’s payout ratio is currently 203.88%.

Institutional Trading of CrossAmerica Partners

Several hedge funds have recently bought and sold shares of the business. Eastern Bank bought a new stake in CrossAmerica Partners during the 3rd quarter valued at $26,000. CWM LLC grew its holdings in shares of CrossAmerica Partners by 35.5% during the fourth quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 887 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of CrossAmerica Partners by 43.3% during the fourth quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 1,869 shares during the last quarter. Royal Bank of Canada increased its position in shares of CrossAmerica Partners by 48.7% during the fourth quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock worth $153,000 after acquiring an additional 2,422 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new stake in shares of CrossAmerica Partners during the fourth quarter worth about $193,000. 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.