Jeremy Bergeron Buys 1,500 Shares of CrossAmerica Partners LP (NYSE:CAPL) Stock
CrossAmerica Partners LP (NYSE:CAPL) insider Jeremy Bergeron bought 1,500 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $26.03 per share, with a total value of $39,045.00. Following the purchase, the insider now directly owns 11,061 shares in the company, valued at $287,917.83. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
CrossAmerica Partners LP (NYSE CAPL) traded up 1.67% during midday trading on Friday, hitting $26.25. 48,170 shares of the company traded hands. CrossAmerica Partners LP has a 12-month low of $23.26 and a 12-month high of $29.80. The firm has a market capitalization of $885.31 million, a PE ratio of 125.60 and a beta of 1.34. The stock’s 50-day moving average is $26.48 and its 200-day moving average is $25.67.
CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Monday, August 7th. The oil and gas company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by $0.01. CrossAmerica Partners had a return on equity of 4.11% and a net margin of 0.06%. The business had revenue of $528.79 million for the quarter, compared to the consensus estimate of $596.92 million. Analysts anticipate that CrossAmerica Partners LP will post $0.30 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be given a dividend of $0.6225 per share. This represents a $2.49 dividend on an annualized basis and a yield of 9.49%. 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. CrossAmerica Partners’s dividend payout ratio (DPR) is currently -8,297.23%.
A number of institutional investors have recently added to or reduced their stakes in CAPL. Stephens Inc. AR raised 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. Bank of Montreal Can acquired a new position in CrossAmerica Partners during the second quarter worth approximately $255,000. Ameriprise Financial Inc. acquired a new position in CrossAmerica Partners during the first quarter worth approximately $265,000. Wells Fargo & Company MN raised 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. Finally, Cowen Inc. acquired a new position in CrossAmerica Partners during the second quarter worth approximately $510,000. 37.19% of the stock is currently owned by institutional investors and hedge funds.
CAPL has been the subject of a number of research reports. Zacks Investment Research raised shares of CrossAmerica Partners from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, July 11th. BidaskClub lowered shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $27.00 price objective on shares of CrossAmerica Partners in a research note on Thursday, April 13th. Bank of America Corporation lowered shares of CrossAmerica Partners from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $28.00 to $30.00 in a research note on Wednesday, July 26th. Finally, Raymond James Financial, Inc. lifted their price objective on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Four 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 an average price target of $30.00.
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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