CrossAmerica Partners (NYSE:CAPL) Upgraded by Wall Street Zen to Buy Rating

CrossAmerica Partners (NYSE:CAPL) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CrossAmerica Partners in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

CrossAmerica Partners Stock Down 0.7%

NYSE:CAPL opened at $20.13 on Friday. The stock has a market cap of $767.56 million, a price-to-earnings ratio of 19.54 and a beta of 0.37. The company’s 50 day moving average price is $21.60 and its 200-day moving average price is $20.98. CrossAmerica Partners has a 52 week low of $19.61 and a 52 week high of $25.73.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. CrossAmerica Partners had a negative return on equity of 9.84% and a net margin of 1.14%.The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $748.01 million. As a group, sell-side analysts anticipate that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CrossAmerica Partners by 4.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock valued at $12,774,000 after purchasing an additional 27,767 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of CrossAmerica Partners by 4.8% in the third quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock worth $6,272,000 after buying an additional 13,767 shares during the last quarter. First Trust Advisors LP grew its position in CrossAmerica Partners by 22.9% during the third quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock valued at $4,186,000 after buying an additional 37,093 shares during the period. Quadrant Private Wealth Management LLC grew its position in CrossAmerica Partners by 0.5% during the third quarter. Quadrant Private Wealth Management LLC now owns 166,828 shares of the oil and gas company’s stock valued at $3,508,000 after buying an additional 837 shares during the period. Finally, LPL Financial LLC increased its holdings in CrossAmerica Partners by 5.8% during the fourth quarter. LPL Financial LLC now owns 119,713 shares of the oil and gas company’s stock valued at $2,466,000 after buying an additional 6,614 shares during the last quarter. 24.06% of the stock is owned by hedge funds and other institutional investors.

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.