CrossAmerica Partners LP (NYSE:CAPL) Sees Significant Growth in Short Interest

CrossAmerica Partners LP (NYSE:CAPL) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 65,600 shares, an increase of 10.8% from the March 15th total of 59,200 shares. Based on an average daily volume of 35,300 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG lifted its holdings in CrossAmerica Partners by 33.0% during the 1st quarter. UBS Group AG now owns 5,758 shares of the oil and gas company’s stock worth $125,000 after purchasing an additional 1,430 shares during the last quarter. Bank of America Corp DE lifted its holdings in CrossAmerica Partners by 226.9% during the 4th quarter. Bank of America Corp DE now owns 8,774 shares of the oil and gas company’s stock worth $174,000 after purchasing an additional 6,090 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in CrossAmerica Partners by 37.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 9,371 shares of the oil and gas company’s stock worth $185,000 after purchasing an additional 2,559 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in CrossAmerica Partners during the 3rd quarter worth approximately $205,000. Finally, Private Advisor Group LLC acquired a new stake in CrossAmerica Partners during the 1st quarter worth approximately $250,000. 24.06% of the stock is currently owned by institutional investors.

CrossAmerica Partners Stock Down 0.6 %

Shares of CrossAmerica Partners stock opened at $22.49 on Monday. The business’s 50 day simple moving average is $22.26 and its 200 day simple moving average is $22.41. CrossAmerica Partners has a 52-week low of $17.91 and a 52-week high of $24.19. The firm has a market cap of $854.17 million, a PE ratio of 21.42 and a beta of 1.53. The company has a debt-to-equity ratio of 250.71, a quick ratio of 0.35 and a current ratio of 0.67.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.11 billion. CrossAmerica Partners had a return on equity of 197.82% and a net margin of 0.93%. On average, analysts predict that CrossAmerica Partners will post 0.95 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, February 2nd were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $2.10 annualized dividend and a dividend yield of 9.34%. CrossAmerica Partners’s dividend payout ratio is currently 200.00%.

Analysts Set New Price Targets

Separately, TheStreet lowered CrossAmerica Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th.

About CrossAmerica Partners

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.