CrossAmerica Partners (NYSE:CAPL) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. 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. Wall Street Zen raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

CrossAmerica Partners Stock Performance

CrossAmerica Partners stock opened at $22.58 on Monday. CrossAmerica Partners has a 52 week low of $19.61 and a 52 week high of $23.34. The firm has a market capitalization of $861.20 million, a price-to-earnings ratio of 15.16 and a beta of 0.29. The company has a 50 day moving average price of $22.11 and a 200 day moving average price of $21.70.

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

CrossAmerica Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 4th were given a $0.525 dividend. The ex-dividend date was Monday, May 4th. This represents a $2.10 annualized dividend and a yield of 9.3%. CrossAmerica Partners’s payout ratio is presently 140.94%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. 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 acquiring an additional 600 shares during the last quarter. CWM LLC increased its stake in shares of CrossAmerica Partners by 35.5% in the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 887 shares during the period. North Star Investment Management Corp. bought a new stake in shares of CrossAmerica Partners during the first quarter worth $105,000. Wells Fargo & Company MN lifted its stake 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 acquiring an additional 1,869 shares during the period. Finally, Royal Bank of Canada boosted its holdings in CrossAmerica Partners by 48.7% in the fourth quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock valued at $153,000 after acquiring 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.