Short Interest in CrossAmerica Partners LP (NYSE:CAPL) Rises By 44.6%

CrossAmerica Partners LP (NYSE:CAPLGet Rating) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 42,800 shares, a growth of 44.6% from the March 15th total of 29,600 shares. Based on an average trading volume of 51,400 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.2% of the company’s shares are sold short.

Several brokerages have commented on CAPL. Zacks Investment Research lowered CrossAmerica Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 3rd. StockNews.com began coverage on CrossAmerica Partners in a report on Thursday, March 31st. They set a “buy” rating on the stock.

NYSE:CAPL traded down $0.12 during midday trading on Friday, reaching $22.74. 28,170 shares of the company traded hands, compared to its average volume of 44,589. CrossAmerica Partners has a twelve month low of $17.27 and a twelve month high of $23.29. The firm has a market capitalization of $861.85 million, a price-to-earnings ratio of 39.21 and a beta of 1.99. The company has a debt-to-equity ratio of 14.33, a current ratio of 0.65 and a quick ratio of 0.37. The company has a fifty day moving average price of $21.04 and a 200 day moving average price of $20.63.

CrossAmerica Partners (NYSE:CAPLGet Rating) last announced its earnings results on Monday, February 28th. The oil and gas company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.11. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $732.98 million. CrossAmerica Partners had a return on equity of 31.20% and a net margin of 0.60%. During the same quarter in the previous year, the business earned $0.24 EPS. On average, equities research analysts forecast that CrossAmerica Partners will post 0.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 10th. Shareholders of record on Thursday, February 3rd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 9.23%. The ex-dividend date was Wednesday, February 2nd. CrossAmerica Partners’s payout ratio is currently 362.08%.

A number of institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC bought a new stake in shares of CrossAmerica Partners in the 1st quarter worth $83,000. Adirondack Trust Co. bought a new stake in shares of CrossAmerica Partners in the 3rd quarter worth $123,000. PNC Financial Services Group Inc. raised its stake in shares of CrossAmerica Partners by 47.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,456 shares of the oil and gas company’s stock worth $148,000 after buying an additional 2,400 shares in the last quarter. Paradigm Financial Partners LLC bought a new stake in shares of CrossAmerica Partners in the 4th quarter worth $222,000. Finally, Tortoise Index Solutions LLC raised its stake in shares of CrossAmerica Partners by 5.8% in the 4th quarter. Tortoise Index Solutions LLC now owns 14,513 shares of the oil and gas company’s stock worth $277,000 after buying an additional 795 shares in the last quarter. 24.45% of the stock is currently owned by hedge funds and other institutional investors.

CrossAmerica Partners Company Profile (Get Rating)

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.

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