CrossAmerica Partners (NYSE:CAPL) Sees Strong Trading Volume – Here’s What Happened

CrossAmerica Partners LP (NYSE:CAPL) shares saw an uptick in trading volume on Monday . Approximately 64,467 shares traded hands during mid-day trading, an increase of 40% from the previous session’s volume of 46,150 shares.The stock last traded at $24.1750 and had previously closed at $23.60.

Wall Street Analyst Weigh In

CAPL has been the topic of a number of research analyst reports. Wall Street Zen upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Zacks Research raised CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

CrossAmerica Partners Trading Up 0.2%

The firm has a market cap of $920.77 million, a price-to-earnings ratio of 17.61 and a beta of 0.29. The company has a 50 day moving average of $22.26 and a 200 day moving average of $21.91.

CrossAmerica Partners (NYSE:CAPL) last posted 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. CrossAmerica Partners had a negative return on equity of 37.73% and a net margin of 1.43%.The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $731.45 million. Equities analysts forecast that CrossAmerica Partners LP will post 1.2 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 3rd were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 8.7%. The ex-dividend date was Monday, August 3rd. CrossAmerica Partners’s dividend payout ratio is presently 153.28%.

Institutional Investors Weigh In On CrossAmerica Partners

Several large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings in CrossAmerica Partners by 40.0% during the first 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 last quarter. CWM LLC grew its position 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 valued at $70,000 after acquiring an additional 887 shares during the period. North Star Investment Management Corp. acquired a new position in shares of CrossAmerica Partners during the 1st quarter worth about $105,000. Wells Fargo & Company MN raised its holdings in shares of CrossAmerica Partners by 43.3% in the 4th quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 1,869 shares during the period. Finally, Royal Bank of Canada lifted its stake in CrossAmerica Partners by 48.7% in the 4th quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock valued at $153,000 after purchasing an additional 2,422 shares during the last quarter. 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.