CrossAmerica Partners (NYSE:CAPL) Cut to Hold at Zacks Research

Zacks Research downgraded shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of CrossAmerica Partners in a report on Tuesday, September 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

CrossAmerica Partners Trading Down 0.4%

Shares of CAPL opened at $21.58 on Monday. The stock has a market cap of $823.71 million, a P/E ratio of 15.75 and a beta of 0.34. CrossAmerica Partners has a 1 year low of $19.67 and a 1 year high of $24.63. The stock’s 50-day moving average price is $22.50 and its two-hundred day moving average price is $22.09.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $731.45 million. As a group, equities analysts forecast that CrossAmerica Partners will post 1.18 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were issued a $0.5250 dividend. This represents a $2.10 annualized dividend and a dividend yield of 9.7%. The ex-dividend date was Monday, August 3rd. CrossAmerica Partners’s dividend payout ratio is 153.28%.

Hedge Funds Weigh In On CrossAmerica Partners

Several institutional investors have recently modified their holdings of CAPL. First Trust Advisors LP raised its holdings in CrossAmerica Partners by 5.9% during the 1st quarter. First Trust Advisors LP now owns 190,006 shares of the oil and gas company’s stock worth $3,948,000 after buying an additional 10,640 shares during the period. NewEdge Wealth LLC raised its holdings in shares of CrossAmerica Partners by 1.3% during the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock worth $1,953,000 after acquiring an additional 1,213 shares during the period. Outlook Wealth Advisors LLC lifted its position in CrossAmerica Partners by 80.9% in the 1st quarter. Outlook Wealth Advisors LLC now owns 22,250 shares of the oil and gas company’s stock valued at $462,000 after acquiring an additional 9,950 shares in the last quarter. ING Groep NV lifted its position in CrossAmerica Partners by 30.8% in the 4th quarter. ING Groep NV now owns 17,000 shares of the oil and gas company’s stock valued at $350,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in CrossAmerica Partners in the 1st quarter worth $278,000. Institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership that distributes motor fuels and owns, leases, and operates energy-related infrastructure. The company supplies branded and unbranded gasoline and diesel fuel to independent dealers, commercial customers, and other retail and wholesale markets.

Its assets and operations include fuel terminals, storage facilities, pipelines, transportation equipment, and retail sites such as convenience stores and gas stations.