CrossAmerica Partners (NYSE:CAPL) Share Price Passes Above Fifty Day Moving Average – Here’s Why

CrossAmerica Partners LP (NYSE:CAPL) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $21.08 and traded as high as $22.92. CrossAmerica Partners shares last traded at $22.7640, with a volume of 22,177 shares changing hands.

Analyst Ratings Changes

CAPL has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of CrossAmerica Partners in a research note on Monday, December 29th. Wall Street Zen cut shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, CrossAmerica Partners has a consensus rating of “Sell”.

CrossAmerica Partners Trading Down 1.0%

The firm’s 50 day simple moving average is $21.11 and its 200-day simple moving average is $20.87. The stock has a market capitalization of $859.61 million, a price-to-earnings ratio of 18.79 and a beta of 0.35.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.08. The business had revenue of $971.85 million during the quarter, compared to analysts’ expectations of $780.93 million. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. As a group, equities research analysts predict that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Stockholders of record on Monday, February 2nd will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, February 2nd. This represents a $2.10 annualized dividend and a dividend yield of 9.3%. CrossAmerica Partners’s dividend payout ratio is 175.00%.

Institutional Trading of CrossAmerica Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Eastern Bank acquired a new stake in CrossAmerica Partners during the 3rd quarter worth about $26,000. CWM LLC raised its stake in shares of CrossAmerica Partners by 35.5% in the fourth 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 last quarter. Outlook Wealth Advisors LLC raised its position in CrossAmerica Partners by 5.1% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 12,300 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 600 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of CrossAmerica Partners by 36.3% in the second quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company’s stock valued at $299,000 after purchasing an additional 3,812 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in CrossAmerica Partners in the 3rd quarter valued at about $305,000. 24.06% of the stock is currently owned by institutional investors and hedge funds.

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.