CrossAmerica Partners (NYSE:CAPL) Hits New 52-Week High – Still a Buy?

CrossAmerica Partners LP (NYSE:CAPL)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.48 and last traded at $23.45, with a volume of 39765 shares trading hands. The stock had previously closed at $22.44.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Zacks Research upgraded shares of CrossAmerica Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Weiss Ratings raised CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Wall Street Zen upgraded shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, CrossAmerica Partners currently has a consensus rating of “Buy”.

CrossAmerica Partners Price Performance

The business has a 50 day moving average price of $22.16 and a 200 day moving average price of $21.89. The stock has a market capitalization of $887.87 million, a PE ratio of 16.98 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $731.45 million. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. On average, equities analysts expect that CrossAmerica Partners LP will post 1.2 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend was Monday, August 3rd. CrossAmerica Partners’s dividend payout ratio is presently 153.28%.

Institutional Trading of CrossAmerica Partners

Several hedge funds have recently bought and sold shares of CAPL. NewEdge Advisors LLC raised its holdings in CrossAmerica Partners by 40.0% during the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 600 shares during the period. CWM LLC boosted its stake in CrossAmerica Partners by 35.5% in the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 887 shares during the period. North Star Investment Management Corp. purchased a new stake in CrossAmerica Partners during the 1st quarter valued at approximately $105,000. Wells Fargo & Company MN lifted its holdings 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 worth $128,000 after buying an additional 1,869 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of CrossAmerica Partners by 48.7% during the fourth quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock worth $153,000 after acquiring an additional 2,422 shares during the last quarter. Institutional investors own 24.06% of the company’s stock.

About CrossAmerica Partners

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.