CrossAmerica Partners LP (CAPL) Rating Lowered to Hold at BidaskClub
BidaskClub cut shares of CrossAmerica Partners LP (NYSE:CAPL) from a buy rating to a hold rating in a research note issued to investors on Friday.
CAPL has been the topic of several other research reports. Zacks Investment Research raised shares of CrossAmerica Partners from a hold rating to a buy rating and set a $28.00 price target on the stock in a research report on Thursday, May 11th. Royal Bank Of Canada reaffirmed a hold rating and issued a $27.00 price target on shares of CrossAmerica Partners in a research report on Thursday, April 13th. Raymond James Financial, Inc. raised their price target on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the company an outperform rating in a research report on Thursday, July 27th. Finally, Bank of America Corporation cut shares of CrossAmerica Partners from a buy rating to a neutral rating and raised their price target for the company from $28.00 to $30.00 in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $30.00.
Shares of CrossAmerica Partners (CAPL) opened at 27.82 on Friday. The firm has a market cap of $938.26 million, a P/E ratio of 133.11 and a beta of 1.33. CrossAmerica Partners has a 52-week low of $23.01 and a 52-week high of $29.80. The company has a 50 day moving average price of $26.11 and a 200-day moving average price of $25.66.
CrossAmerica Partners (NYSE:CAPL) last announced 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 net margin of 0.44% and a return on equity of 3.91%. The business had revenue of $469.29 million during the quarter, compared to the consensus estimate of $494.04 million. On average, analysts expect that CrossAmerica Partners will post $0.32 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a $0.6225 dividend. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.49 annualized dividend and a yield of 8.95%. CrossAmerica Partners’s dividend payout ratio (DPR) is 1,235.06%.
Large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake 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 valued at $1,572,000 after buying an additional 2,113 shares during the period. Advisors Capital Management LLC raised its stake in CrossAmerica Partners by 5.3% in the second quarter. Advisors Capital Management LLC now owns 134,342 shares of the oil and gas company’s stock valued at $3,426,000 after buying an additional 6,819 shares during the period. Bank of Montreal Can purchased a new stake in CrossAmerica Partners during the second quarter valued at approximately $255,000. Credit Suisse AG raised its stake 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 valued at $628,000 after buying an additional 1,523 shares during the period. Finally, Stephens Inc. AR raised its stake 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 valued at $235,000 after buying an additional 685 shares during the period. Hedge funds and other institutional investors own 37.14% 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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