CrossAmerica Partners (NYSE:CAPL) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of CrossAmerica Partners (NYSE:CAPL) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

CAPL has been the subject of a number of other research reports. Weiss Ratings upgraded shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen raised shares of CrossAmerica Partners from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

CrossAmerica Partners Price Performance

CrossAmerica Partners stock opened at $20.82 on Monday. The business has a 50 day simple moving average of $21.60 and a 200 day simple moving average of $20.99. The company has a market capitalization of $793.87 million, a PE ratio of 20.21 and a beta of 0.39. CrossAmerica Partners has a one year low of $19.61 and a one year high of $25.73.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $748.01 million. CrossAmerica Partners had a negative return on equity of 9.43% and a net margin of 1.14%. Equities analysts anticipate that CrossAmerica Partners will post 0.42 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, February 12th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend was Monday, February 2nd. CrossAmerica Partners’s dividend payout ratio is 203.88%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Eastern Bank bought 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% during the fourth 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. Wells Fargo & Company MN boosted its holdings in 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 valued at $128,000 after acquiring an additional 1,869 shares during the last quarter. Royal Bank of Canada increased its position in CrossAmerica Partners by 48.7% in 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 period. Finally, Motiv8 Investments LLC bought a new stake in CrossAmerica Partners during the 4th 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.