CrossAmerica Partners (NYSE:CAPL) Sees Strong Trading Volume – Time to Buy?

Shares of CrossAmerica Partners LP (NYSE:CAPL) saw an uptick in trading volume on Monday . 46,329 shares were traded during trading, an increase of 28% from the previous session’s volume of 36,186 shares.The stock last traded at $21.31 and had previously closed at $20.65.

Analyst Ratings Changes

Separately, StockNews.com raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

CrossAmerica Partners Price Performance

The company has a market capitalization of $822.20 million, a price-to-earnings ratio of 41.56 and a beta of 1.48. The company’s 50-day moving average price is $20.87 and its two-hundred day moving average price is $20.32.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.28 billion. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, equities research analysts expect that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Monday, November 4th were issued a $0.525 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.10 annualized dividend and a yield of 9.72%. CrossAmerica Partners’s payout ratio is currently 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in CrossAmerica Partners by 376.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 2,000 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of CrossAmerica Partners during the first quarter worth about $205,000. Franklin Resources Inc. bought a new position in CrossAmerica Partners in the 3rd quarter valued at about $279,000. IFG Advisory LLC bought a new position in CrossAmerica Partners in the 2nd quarter valued at about $332,000. Finally, Sanctuary Advisors LLC bought a new stake in CrossAmerica Partners during the 2nd quarter worth approximately $348,000. 24.06% of the stock is owned by institutional investors and hedge funds.

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.