CrossAmerica Partners LP (CAPL) Lowered to Neutral at Bank of America Corporation
Bank of America Corporation lowered shares of CrossAmerica Partners LP (NYSE:CAPL) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat reports. They currently have $30.00 price objective on the oil and gas company’s stock, up from their prior price objective of $28.00.
Several other research firms also recently weighed in on CAPL. Zacks Investment Research upgraded CrossAmerica Partners from a hold rating to a buy rating and set a $28.00 price target for the company in a research note on Tuesday, July 11th. Royal Bank Of Canada restated a hold rating and issued a $27.00 price target on shares of CrossAmerica Partners in a research note on Thursday, April 13th. Finally, BidaskClub upgraded CrossAmerica Partners from a hold rating to a buy rating in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $30.00.
Shares of CrossAmerica Partners (NYSE:CAPL) opened at 27.77 on Wednesday. The firm’s 50-day moving average is $26.04 and its 200 day moving average is $25.67. CrossAmerica Partners has a 12 month low of $23.01 and a 12 month high of $29.80. The company has a market capitalization of $936.57 million, a price-to-earnings ratio of 132.87 and a beta of 1.33.
CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. CrossAmerica Partners had a return on equity of 3.91% and a net margin of 0.44%. The business had revenue of $469.29 million during the quarter, compared to the consensus estimate of $494.04 million. Equities analysts expect that CrossAmerica Partners will post $0.32 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a dividend of $0.6225 per share. This is an increase from CrossAmerica Partners’s previous quarterly dividend of $0.51. This represents a $2.49 dividend on an annualized basis and a dividend yield of 8.97%. The ex-dividend date of this dividend is Thursday, August 3rd. CrossAmerica Partners’s dividend payout ratio is currently 1,235.06%.
Several hedge funds and other institutional investors have recently bought and sold shares of CAPL. Wells Fargo & Company MN increased its position in CrossAmerica Partners by 2.3% in the first quarter. Wells Fargo & Company MN now owns 18,635 shares of the oil and gas company’s stock worth $488,000 after buying an additional 412 shares in the last quarter. Stephens Inc. AR increased its position in CrossAmerica Partners by 8.2% in the first quarter. Stephens Inc. AR now owns 8,994 shares of the oil and gas company’s stock worth $235,000 after buying an additional 685 shares in the last quarter. Mutual of America Capital Management LLC increased its position in CrossAmerica Partners by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 101,901 shares of the oil and gas company’s stock worth $2,668,000 after buying an additional 760 shares in the last quarter. Credit Suisse AG increased its position in CrossAmerica Partners by 6.8% in the first quarter. Credit Suisse AG now owns 23,954 shares of the oil and gas company’s stock worth $628,000 after buying an additional 1,523 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in CrossAmerica Partners by 3.6% in the second quarter. Janney Montgomery Scott LLC now owns 61,634 shares of the oil and gas company’s stock worth $1,572,000 after buying an additional 2,113 shares in the last quarter. Hedge funds and other institutional investors own 37.21% of the company’s stock.
CrossAmerica Partners Company Profile
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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