CrossAmerica Partners (NYSE:CAPL) Shares Down 3.9% – Here’s Why

CrossAmerica Partners LP (NYSE:CAPL)’s share price traded down 3.9% during mid-day trading on Monday . The company traded as low as $21.30 and last traded at $21.3450. Approximately 18,816 shares were traded during trading, a decline of 58% from the average session volume of 44,899 shares. The stock had previously closed at $22.21.

Analyst Ratings Changes

Several research analysts have commented on CAPL shares. Weiss Ratings raised shares of CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Zacks Research lowered shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Wall Street Zen raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, CrossAmerica Partners currently has a consensus rating of “Hold”.

CrossAmerica Partners Price Performance

The firm has a market cap of $806.45 million, a PE ratio of 14.19 and a beta of 0.29. The stock’s fifty day simple moving average is $22.17 and its 200-day simple moving average is $21.88.

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

CrossAmerica Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 9.9%. The ex-dividend date is Monday, August 3rd. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 140.94%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of large investors have recently bought and sold shares of CAPL. NewEdge Advisors LLC increased its holdings in CrossAmerica Partners by 40.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock worth $44,000 after buying an additional 600 shares during the period. CWM LLC lifted its stake in CrossAmerica Partners by 35.5% during the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock valued at $70,000 after acquiring an additional 887 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of CrossAmerica Partners in the 1st quarter valued at $105,000. Wells Fargo & Company MN increased its stake in shares of CrossAmerica Partners by 43.3% in the fourth quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock worth $128,000 after acquiring an additional 1,869 shares during the period. Finally, Royal Bank of Canada raised its holdings 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 purchasing an additional 2,422 shares during the last quarter. 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.