CrossAmerica Partners LP (NYSE:CAPL) Stock Short Interest Rises 64.7%

CrossAmerica Partners LP (NYSE:CAPL) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 65,945 shares, an increase of 64.7% from the September 30th total of 40,044 shares. Based on an average daily trading volume, of 29,292 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.4% of the shares of the company are short sold.

CrossAmerica Partners Price Performance

CAPL traded down $1.26 during trading hours on Monday, reaching $21.25. The company’s stock had a trading volume of 26,948 shares, compared to its average volume of 42,290. The business’s 50-day moving average is $22.26 and its 200-day moving average is $22.03. The stock has a market cap of $811.07 million, a PE ratio of 15.48 and a beta of 0.29. CrossAmerica Partners has a fifty-two week low of $19.78 and a fifty-two week high of $24.63.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $731.45 million. Analysts expect that CrossAmerica Partners will post 1.23 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be given a $0.5250 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.9%. CrossAmerica Partners’s dividend payout ratio is currently 153.28%.

Hedge Funds Weigh In On CrossAmerica Partners

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its holdings in CrossAmerica Partners by 40.0% during 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 last quarter. Gateway Wealth Partners LLC acquired a new stake in shares of CrossAmerica Partners during the 1st quarter worth about $214,000. Sei Investments Co. purchased a new stake in CrossAmerica Partners during the first quarter worth approximately $278,000. NewEdge Wealth LLC lifted its stake in CrossAmerica Partners by 1.3% during the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock worth $1,953,000 after purchasing an additional 1,213 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in CrossAmerica Partners by 5.9% in the first quarter. First Trust Advisors LP now owns 190,006 shares of the oil and gas company’s stock valued at $3,948,000 after purchasing an additional 10,640 shares in the last quarter. Hedge funds and other institutional investors own 24.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of CrossAmerica Partners in a research report on Tuesday, September 8th. Zacks Research cut shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat, CrossAmerica Partners currently has an average rating of “Hold”.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.