CrossAmerica Partners (NYSE:CAPL) Stock Crosses Above Fifty Day Moving Average – What’s Next?

CrossAmerica Partners LP (NYSE:CAPL)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $21.61 and traded as high as $22.99. CrossAmerica Partners shares last traded at $22.7610, with a volume of 43,086 shares trading hands.

Analyst Upgrades and Downgrades

CAPL has been the topic of several recent research reports. Weiss Ratings upgraded shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Zacks Research lowered shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

CrossAmerica Partners Trading Up 0.0%

The business’s 50-day simple moving average is $21.61 and its two-hundred day simple moving average is $21.41. The company has a market capitalization of $867.88 million, a PE ratio of 15.28 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.42. The company had revenue of $841.83 million during the quarter, compared to analysts’ expectations of $697.31 million. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. On average, analysts forecast that CrossAmerica Partners LP will post 0.93 EPS for the current year.

CrossAmerica Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 4th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date of this dividend was Monday, May 4th. CrossAmerica Partners’s dividend payout ratio is presently 140.94%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors have recently modified their holdings of CAPL. First Trust Advisors LP raised its stake in shares of CrossAmerica Partners by 22.9% in the 3rd quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock valued at $4,186,000 after purchasing an additional 37,093 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CrossAmerica Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock valued at $12,774,000 after purchasing an additional 27,767 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of CrossAmerica Partners in the 1st quarter valued at about $535,000. NewEdge Wealth LLC raised its stake in shares of CrossAmerica Partners by 25.4% in the 3rd quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company’s stock valued at $1,859,000 after purchasing an additional 18,798 shares in the last quarter. Finally, Lee Financial Co acquired a new stake in shares of CrossAmerica Partners in the 3rd quarter valued at about $379,000. Institutional investors and hedge funds own 24.06% of the company’s stock.

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.