CrossAmerica Partners (NYSE:CAPL) Share Price Passes Above 50 Day Moving Average – Time to Sell?

CrossAmerica Partners LP (NYSE:CAPL)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $20.65 and traded as high as $21.17. CrossAmerica Partners shares last traded at $20.85, with a volume of 3,589 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CrossAmerica Partners in a research report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, CrossAmerica Partners presently has a consensus rating of “Sell”.

CrossAmerica Partners Trading Up 0.1%

The company’s 50-day moving average is $20.65 and its 200 day moving average is $20.81. The stock has a market capitalization of $794.80 million, a PE ratio of 17.38 and a beta of 0.34.

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

CrossAmerica Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.10 dividend on an annualized basis and a yield of 10.1%. CrossAmerica Partners’s payout ratio is currently 175.00%.

Insider Activity

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

Institutional Trading of CrossAmerica Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. grew its position in CrossAmerica Partners by 1.8% during the 1st quarter. Raymond James Financial Inc. now owns 288,932 shares of the oil and gas company’s stock worth $7,099,000 after purchasing an additional 5,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CrossAmerica Partners by 2.6% in the first 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. Ellsworth Advisors LLC acquired a new stake in CrossAmerica Partners during the first quarter worth about $648,000. Goldman Sachs Group Inc. raised its position in CrossAmerica Partners by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 39,040 shares of the oil and gas company’s stock valued at $959,000 after acquiring an additional 1,375 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in CrossAmerica Partners during the first quarter valued at approximately $33,000. 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.