CrossAmerica Partners (NYSE:CAPL) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

CrossAmerica Partners LP (NYSE:CAPL) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.20 and traded as low as $20.40. CrossAmerica Partners shares last traded at $21.2610, with a volume of 67,849 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAPL. Zacks Research downgraded shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings raised shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, CrossAmerica Partners presently has a consensus rating of “Hold”.

CrossAmerica Partners Price Performance

The company has a market cap of $827.80 million, a price-to-earnings ratio of 14.57 and a beta of 0.29. The business’s fifty day moving average price is $21.24 and its 200 day moving average price is $21.20.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.42. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. The firm had revenue of $841.83 million during the quarter, compared to analyst estimates of $697.31 million. As a group, equities research analysts anticipate that CrossAmerica Partners LP will post 0.43 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 4th will be issued a $0.525 dividend. The ex-dividend date is Monday, May 4th. This represents a $2.10 annualized dividend and a yield of 9.7%. CrossAmerica Partners’s payout ratio is presently 140.94%.

Hedge Funds Weigh In On CrossAmerica Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. acquired a new position in CrossAmerica Partners in the first quarter valued at $105,000. Outlook Wealth Advisors LLC lifted its holdings in CrossAmerica Partners by 80.9% in the first quarter. Outlook Wealth Advisors LLC now owns 22,250 shares of the oil and gas company’s stock valued at $462,000 after buying an additional 9,950 shares during the period. Royal Bank of Canada lifted its holdings 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 valued at $153,000 after buying an additional 2,422 shares during the period. Motiv8 Investments LLC acquired a new position in CrossAmerica Partners in the fourth quarter valued at $193,000. Finally, Wells Fargo & Company MN lifted 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 buying an additional 1,869 shares during the period. 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.