Global X Management Co. LLC Purchases 15,577 Shares of CrossAmerica Partners LP (CAPL)
Global X Management Co. LLC increased its position in shares of CrossAmerica Partners LP (NYSE:CAPL) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,352 shares of the oil and gas company’s stock after buying an additional 15,577 shares during the period. Global X Management Co. LLC’s holdings in CrossAmerica Partners were worth $7,608,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in 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 worth $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 worth $3,426,000 after buying an additional 6,819 shares during the period. Bank of Montreal Can bought a new stake in CrossAmerica Partners during the second quarter worth 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 worth $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 worth $235,000 after buying an additional 685 shares during the period. Hedge funds and other institutional investors own 37.19% of the company’s stock.
CrossAmerica Partners LP (NYSE:CAPL) opened at 25.82 on Friday. The company’s 50-day moving average price is $26.48 and its 200-day moving average price is $25.67. CrossAmerica Partners LP has a 1-year low of $23.26 and a 1-year high of $29.80. The firm has a market capitalization of $870.81 million, a P/E ratio of 123.54 and a beta of 1.34.
CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Monday, August 7th. The oil and gas company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The firm had revenue of $528.79 million for the quarter, compared to the consensus estimate of $596.92 million. CrossAmerica Partners had a net margin of 0.06% and a return on equity of 4.11%. Equities research analysts expect that CrossAmerica Partners LP will post $0.32 earnings per share for the current fiscal year.
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 given a dividend of $0.6225 per share. This represents a $2.49 annualized dividend and a yield of 9.64%. This is a boost from CrossAmerica Partners’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, August 3rd. CrossAmerica Partners’s payout ratio is presently -8,297.23%.
A number of equities research analysts have commented on the company. BidaskClub upgraded CrossAmerica Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Bank of America Corporation lowered CrossAmerica Partners from a “buy” rating to a “neutral” rating and upped their price target for the company from $28.00 to $30.00 in a research report on Wednesday, July 26th. Raymond James Financial, Inc. upped their price target on CrossAmerica Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $27.00 price target on shares of CrossAmerica Partners in a research report on Thursday, April 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.00.
About CrossAmerica Partners
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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