StockNews.com Lowers CrossAmerica Partners (NYSE:CAPL) to Buy

StockNews.com downgraded shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning.

CrossAmerica Partners Stock Performance

Shares of NYSE:CAPL opened at $20.74 on Friday. The company’s 50 day moving average price is $19.86 and its two-hundred day moving average price is $20.84. CrossAmerica Partners has a 12-month low of $18.43 and a 12-month high of $24.19. The firm has a market cap of $788.74 million, a PE ratio of 34.00 and a beta of 1.51. The company has a quick ratio of 0.37, a current ratio of 0.76 and a debt-to-equity ratio of 250.71.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.10. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.27 billion. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. Equities research analysts predict that CrossAmerica Partners will post 0.46 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.10 annualized dividend and a dividend yield of 10.13%. CrossAmerica Partners’s dividend payout ratio is 344.26%.

Institutional Trading of CrossAmerica Partners

A number of hedge funds have recently added to or reduced their stakes in CAPL. Sanctuary Advisors LLC acquired a new stake in CrossAmerica Partners in the second quarter valued at approximately $348,000. IFG Advisory LLC acquired a new stake in CrossAmerica Partners in the second quarter valued at approximately $332,000. GSA Capital Partners LLP boosted its position in CrossAmerica Partners by 79.7% in the first quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock valued at $830,000 after buying an additional 16,153 shares in the last quarter. SpiderRock Advisors LLC acquired a new stake in CrossAmerica Partners in the first quarter valued at approximately $325,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in CrossAmerica Partners in the first quarter valued at approximately $205,000. Institutional investors and hedge funds own 24.06% of the company’s stock.

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.