CrossAmerica Partners (NYSE:CAPL) Stock Crosses Above 50-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 $20.54 and traded as high as $20.60. CrossAmerica Partners shares last traded at $20.51, with a volume of 8,520 shares traded.

Analyst Ratings Changes

A number of analysts have issued reports on CAPL shares. Wall Street Zen lowered shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d+)” rating on shares of CrossAmerica Partners in a report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, CrossAmerica Partners currently has a consensus rating of “Sell”.

CrossAmerica Partners Stock Down 0.1%

The firm has a fifty day simple moving average of $20.54 and a 200-day simple moving average of $20.97. The company has a market cap of $781.84 million, a PE ratio of 17.09 and a beta of 0.34.

CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. The business had revenue of $971.85 million for the quarter, compared to analyst estimates of $780.93 million. Equities research analysts forecast that CrossAmerica Partners LP will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 3rd were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date of this dividend was Monday, November 3rd. CrossAmerica Partners’s dividend payout ratio is 175.00%.

Insider Buying and Selling at CrossAmerica Partners

In other news, Director John B. Reilly III purchased 1,871 shares of the business’s stock in a transaction dated Friday, October 10th. The stock was acquired at an average price of $19.74 per share, with a total value of $36,933.54. Following the purchase, the director directly owned 4,969,188 shares of the company’s stock, valued at $98,091,771.12. This represents a 0.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph V. Jr. Topper bought 1,801 shares of the business’s stock in a transaction on Friday, October 10th. The shares were acquired at an average price of $19.74 per share, with a total value of $35,551.74. Following the transaction, the director owned 1,859,450 shares of the company’s stock, valued at $36,705,543. The trade was a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 52.00% of the company’s stock.

Hedge Funds Weigh In On CrossAmerica Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. grew its holdings in CrossAmerica Partners by 1.8% in the first quarter. Raymond James Financial Inc. now owns 288,932 shares of the oil and gas company’s stock valued at $7,099,000 after purchasing an additional 5,060 shares during the period. SVB Wealth LLC purchased a new stake in shares of CrossAmerica Partners during the 1st quarter valued at $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of CrossAmerica Partners by 2.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 582,849 shares of the oil and gas company’s stock worth $14,321,000 after buying an additional 14,948 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of CrossAmerica Partners by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 39,040 shares of the oil and gas company’s stock worth $959,000 after buying an additional 1,375 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in CrossAmerica Partners in the first quarter valued at $535,000. Hedge funds and other institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

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.