CrossAmerica Partners (NYSE:CAPL) Stock Crosses Below Fifty Day Moving Average – Here’s Why

CrossAmerica Partners LP (NYSE:CAPL)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $21.86 and traded as low as $21.58. CrossAmerica Partners shares last traded at $21.7860, with a volume of 41,560 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised shares of CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, CrossAmerica Partners currently has a consensus rating of “Buy”.

CrossAmerica Partners Trading Down 1.1%

The firm has a market cap of $843.32 million, a price-to-earnings ratio of 14.84 and a beta of 0.29. The firm’s 50-day moving average is $21.90 and its 200-day moving average is $21.61.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.42. The firm had revenue of $841.83 million for the quarter, compared to the consensus estimate of $697.31 million. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. Analysts forecast that CrossAmerica Partners LP will post 0.93 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 4th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $2.10 annualized dividend and a yield of 9.5%. CrossAmerica Partners’s dividend payout ratio (DPR) is presently 140.94%.

Institutional Trading of CrossAmerica Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its stake in shares of CrossAmerica Partners by 40.0% in the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 600 shares during the last quarter. CWM LLC grew its holdings in CrossAmerica Partners by 35.5% during the fourth quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock worth $70,000 after buying an additional 887 shares in the last quarter. North Star Investment Management Corp. bought a new stake in CrossAmerica Partners during the first quarter worth $105,000. Wells Fargo & Company MN raised its position in CrossAmerica Partners by 43.3% in the 4th 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. Finally, Royal Bank of Canada raised its position in CrossAmerica Partners by 48.7% in the 4th quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock valued at $153,000 after buying an additional 2,422 shares during the last quarter. 24.06% of the stock is owned by 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.