CrossAmerica Partners (NYSE:CAPL) Shares Pass Above 50-Day Moving Average – What’s Next?

Shares of CrossAmerica Partners LP (NYSE:CAPL) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $21.54 and traded as high as $23.24. CrossAmerica Partners shares last traded at $23.16, with a volume of 29,133 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of CrossAmerica Partners in a research note on Monday, December 29th. Wall Street Zen cut CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

CrossAmerica Partners Stock Up 2.0%

The company has a market capitalization of $882.86 million, a PE ratio of 19.30 and a beta of 0.37. The stock’s fifty day moving average price is $21.54 and its two-hundred day moving average price is $20.94.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 9.1%. The ex-dividend date was Monday, February 2nd. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 175.00%.

Hedge Funds Weigh In On CrossAmerica Partners

A number of hedge funds have recently bought and sold shares of CAPL. Motiv8 Investments LLC bought a new stake in shares of CrossAmerica Partners in the 4th quarter worth $193,000. Wells Fargo & Company MN boosted its position in shares of CrossAmerica Partners by 43.3% during the fourth quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 1,869 shares during the last quarter. LPL Financial LLC increased its holdings in CrossAmerica Partners by 5.8% in the 4th quarter. LPL Financial LLC now owns 119,713 shares of the oil and gas company’s stock worth $2,466,000 after buying an additional 6,614 shares in the last quarter. ING Groep NV increased its holdings in CrossAmerica Partners by 30.8% in the 4th quarter. ING Groep NV now owns 17,000 shares of the oil and gas company’s stock worth $350,000 after buying an additional 4,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in CrossAmerica Partners by 7.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 36,632 shares of the oil and gas company’s stock worth $755,000 after buying an additional 2,640 shares during the last quarter. Institutional investors 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.