CrossAmerica Partners (NYSE:CAPL) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

CrossAmerica Partners (NYSE:CAPL) posted its earnings results on Wednesday. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11, Zacks reports. CrossAmerica Partners had a negative return on equity of 23.68% and a net margin of 1.30%.

CrossAmerica Partners Trading Down 1.2%

CAPL traded down $0.24 during trading hours on Wednesday, hitting $20.04. 354,846 shares of the company’s stock were exchanged, compared to its average volume of 43,699. The firm has a market cap of $764.08 million, a P/E ratio of 16.70 and a beta of 0.37. CrossAmerica Partners has a 12-month low of $19.61 and a 12-month high of $25.73. The firm has a 50 day moving average of $21.64 and a 200 day moving average of $20.99.

CrossAmerica Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 2nd were issued a $0.525 dividend. The ex-dividend date was Monday, February 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.5%. CrossAmerica Partners’s payout ratio is 175.00%.

Institutional Trading of CrossAmerica Partners

A number of large investors have recently modified their holdings of CAPL. Wells Fargo & Company MN raised 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 valued at $128,000 after acquiring an additional 1,869 shares in the last quarter. Royal Bank of Canada increased its holdings in CrossAmerica Partners by 48.7% during the 4th 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. Osaic Holdings Inc. raised its position in CrossAmerica Partners by 36.3% in the 2nd quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company’s stock valued at $299,000 after purchasing an additional 3,812 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of CrossAmerica Partners by 19.1% in the 3rd quarter. Citadel Advisors LLC now owns 15,467 shares of the oil and gas company’s stock valued at $325,000 after buying an additional 2,477 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of CrossAmerica Partners during the first quarter worth about $535,000. Hedge funds and other institutional investors own 24.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen cut shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CrossAmerica Partners in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, CrossAmerica Partners has a consensus rating of “Sell”.

CrossAmerica Partners Company Profile

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.