CrossAmerica Partners LP (NYSE:CAPL) Shares Shorted: Short Interest Up 64.7% in October

CrossAmerica Partners LP (NYSE:CAPL) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 65,945 shares, a growth of 64.7% from the September 30th total of 40,044 shares. Based on an average daily volume of 29,292 shares, the short-interest ratio is currently 2.3 days. Currently, 0.4% of the shares of the stock are sold short.

CrossAmerica Partners Stock Performance

Shares of CAPL opened at $21.16 on Wednesday. The company has a market cap of $807.68 million, a price-to-earnings ratio of 15.45 and a beta of 0.29. The stock has a fifty day moving average price of $22.16 and a two-hundred day moving average price of $22.02. CrossAmerica Partners has a 52-week low of $19.78 and a 52-week high of $24.63.

CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.38 by $0.12. CrossAmerica Partners had a negative return on equity of 37.73% and a net margin of 1.43%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $731.45 million. As a group, research analysts predict that CrossAmerica Partners will post 1.23 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, November 2nd will be given a dividend of $0.5250 per share. The ex-dividend date is Monday, November 2nd. This represents a $2.10 annualized dividend and a yield of 9.9%. CrossAmerica Partners’s dividend payout ratio is 153.28%.

Institutional Investors Weigh In On CrossAmerica Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC bought a new position in shares of CrossAmerica Partners in the third quarter worth about $249,000. NewEdge Advisors LLC grew its stake in shares of 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 purchasing an additional 600 shares during the last quarter. Gateway Wealth Partners LLC bought a new stake in shares of CrossAmerica Partners during the first quarter valued at approximately $214,000. Sei Investments Co. bought a new stake in shares of CrossAmerica Partners during the first quarter valued at approximately $278,000. Finally, NewEdge Wealth LLC increased its holdings in shares of CrossAmerica Partners by 1.3% in the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock valued at $1,953,000 after purchasing an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 24.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research lowered shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CrossAmerica Partners in a report on Tuesday, September 8th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.