BidaskClub cut shares of CrossAmerica Partners LP (NYSE:CAPL) from a sell rating to a strong sell rating in a report released on Wednesday.
A number of other analysts also recently weighed in on CAPL. Zacks Investment Research downgraded CrossAmerica Partners from a buy rating to a hold rating in a report on Wednesday, August 2nd. 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $30.00.
Shares of CrossAmerica Partners (NYSE:CAPL) traded up 2.31% during midday trading on Wednesday, hitting $25.70. The company had a trading volume of 23,200 shares. The stock’s market capitalization is $870.20 million. CrossAmerica Partners has a one year low of $23.26 and a one year high of $29.80. The stock’s 50-day moving average price is $26.83 and its 200-day moving average price is $26.04.
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 Zacks’ consensus estimate of $0.08 by ($0.01). CrossAmerica Partners had a net margin of 0.06% and a return on equity of 4.11%. The company had revenue of $528.79 million during the quarter, compared to analyst estimates of $596.92 million. Analysts predict that CrossAmerica Partners will post ($0.02) EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Monday, November 6th will be given a dividend of $0.6275 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.51 annualized dividend and a dividend yield of 9.77%. This is a boost from CrossAmerica Partners’s previous quarterly dividend of $0.62. CrossAmerica Partners’s dividend payout ratio (DPR) is currently -8,297.23%.
In other news, Director John B. Reilly III bought 50,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $26.00 per share, with a total value of $1,300,000.00. Following the transaction, the director now directly owns 190,869 shares in the company, valued at $4,962,594. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph V. Jr. Topper bought 39,057 shares of the company’s stock in a transaction on Friday, September 15th. The shares were purchased at an average cost of $27.52 per share, for a total transaction of $1,074,848.64. Following the transaction, the director now owns 163,544 shares in the company, valued at $4,500,730.88. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 122,235 shares of company stock worth $3,257,064.
Hedge funds have recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in shares of CrossAmerica Partners during the 2nd quarter worth approximately $255,000. Ameriprise Financial Inc. purchased a new stake in shares of CrossAmerica Partners during the 1st quarter worth approximately $265,000. Wells Fargo & Company MN increased its stake in shares of CrossAmerica Partners by 2.3% during the 1st quarter. Wells Fargo & Company MN now owns 18,635 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 412 shares during the last quarter. Cowen Inc. purchased a new stake in shares of CrossAmerica Partners during the 2nd quarter worth approximately $510,000. Finally, Royal Bank of Canada increased its stake in shares of CrossAmerica Partners by 17.1% during the 2nd quarter. Royal Bank of Canada now owns 21,216 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 3,098 shares during the last quarter. Institutional investors own 35.09% 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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