StockNews.com Downgrades CrossAmerica Partners (NYSE:CAPL) to Buy

StockNews.com cut shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a report released on Friday morning.

CrossAmerica Partners Stock Performance

Shares of CAPL stock opened at $21.12 on Friday. The firm has a market capitalization of $803.13 million, a price-to-earnings ratio of 34.62 and a beta of 1.51. The stock has a fifty day moving average of $19.89 and a 200 day moving average of $20.84. CrossAmerica Partners has a 52 week low of $18.43 and a 52 week high of $24.19. The company has a quick ratio of 0.37, a current ratio of 0.76 and a debt-to-equity ratio of 250.71.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.06 by $0.10. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.27 billion. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. As a group, research analysts expect that CrossAmerica Partners will post 0.46 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.94%. CrossAmerica Partners’s dividend payout ratio (DPR) is 344.26%.

Hedge Funds Weigh In On CrossAmerica Partners

A number of institutional investors have recently added to or reduced their stakes in CAPL. American Financial Group Inc. grew its position in shares of CrossAmerica Partners by 3.7% in the 1st quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock worth $319,000 after buying an additional 500 shares during the period. BNP Paribas Financial Markets boosted its position in shares of CrossAmerica Partners by 1.9% in the 1st quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock worth $706,000 after purchasing an additional 565 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of CrossAmerica Partners in the 1st quarter worth approximately $31,000. Janney Montgomery Scott LLC increased its position in CrossAmerica Partners by 10.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock valued at $470,000 after buying an additional 1,872 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in CrossAmerica Partners by 376.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.