CrossAmerica Partners (NYSE:CAPL) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

CrossAmerica Partners LP (NYSE:CAPL) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $21.61 and traded as high as $22.23. CrossAmerica Partners shares last traded at $22.0950, with a volume of 45,069 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “hold (c-)” rating on shares of CrossAmerica Partners in a research note on Friday, May 29th. Finally, Zacks Research upgraded shares of CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, CrossAmerica Partners has an average rating of “Buy”.

CrossAmerica Partners Stock Performance

The firm’s 50 day moving average is $21.61 and its 200-day moving average is $21.46. The stock has a market capitalization of $842.59 million, a price-to-earnings ratio of 14.83 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.42. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. The firm had revenue of $841.83 million during the quarter, compared to analysts’ expectations of $697.31 million. As a group, sell-side analysts forecast that CrossAmerica Partners LP will post 0.93 earnings per share for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 4th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 9.5%. The ex-dividend date was Monday, May 4th. CrossAmerica Partners’s payout ratio is currently 140.94%.

Hedge Funds Weigh In On CrossAmerica Partners

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in CrossAmerica Partners by 40.0% in the 1st 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 in the last quarter. CWM LLC grew its position in shares of CrossAmerica Partners by 35.5% in the fourth quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 887 shares during the period. North Star Investment Management Corp. acquired a new stake in shares of CrossAmerica Partners in the first quarter valued at about $105,000. Wells Fargo & Company MN grew its position in shares of CrossAmerica Partners by 43.3% in 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 purchasing an additional 1,869 shares during the period. Finally, Royal Bank of Canada grew its position in shares of 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 purchasing an additional 2,422 shares during the period. 24.06% of the stock is currently owned by institutional investors and hedge funds.

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.