CrossAmerica Partners LP (NYSE:CAPL) Receives Average Recommendation of “Hold” from Analysts
CrossAmerica Partners LP (NYSE:CAPL) has been given an average recommendation of “Hold” by the seven research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $29.25.
CAPL has been the subject of several recent analyst reports. Zacks Investment Research raised shares of CrossAmerica Partners from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, July 11th. BidaskClub cut shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Bank of America Corporation cut shares of CrossAmerica Partners from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $28.00 to $30.00 in a research report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. upped their price objective on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th.
In other CrossAmerica Partners news, Director John B. Reilly III bought 50,000 shares of the stock in a transaction on Thursday, August 10th. The stock was purchased at an average price of $26.00 per share, with a total value of $1,300,000.00. Following the completion of the purchase, the director now owns 190,869 shares in the company, valued at $4,962,594. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeremy Bergeron bought 1,500 shares of the stock in a transaction on Thursday, August 10th. The shares were acquired at an average cost of $26.03 per share, with a total value of $39,045.00. Following the purchase, the insider now owns 11,061 shares of the company’s stock, valued at approximately $287,917.83. The disclosure for this purchase can be found here.
A number of hedge funds and other institutional investors have recently modified their holdings of CAPL. Janney Montgomery Scott LLC increased its position in shares of CrossAmerica Partners by 21.3% in the first quarter. Janney Montgomery Scott LLC now owns 59,521 shares of the oil and gas company’s stock valued at $1,558,000 after buying an additional 10,471 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of 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 valued at $488,000 after buying an additional 412 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of CrossAmerica Partners during the first quarter valued at approximately $265,000. Mutual of America Capital Management LLC increased its position in shares of CrossAmerica Partners by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 101,901 shares of the oil and gas company’s stock valued at $2,668,000 after buying an additional 760 shares during the last quarter. Finally, Iridian Asset Management LLC CT increased its position in shares of CrossAmerica Partners by 2.5% in the first quarter. Iridian Asset Management LLC CT now owns 159,681 shares of the oil and gas company’s stock valued at $4,180,000 after buying an additional 3,820 shares during the last quarter. 37.19% of the stock is owned by hedge funds and other institutional investors.
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CrossAmerica Partners (NYSE CAPL) opened at 26.25 on Friday. CrossAmerica Partners has a 12-month low of $23.26 and a 12-month high of $29.80. The stock’s 50 day moving average is $26.54 and its 200-day moving average is $25.67. The company’s market capitalization is $880.00 million.
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. CrossAmerica Partners had a return on equity of 4.11% and a net margin of 0.06%. The firm had revenue of $528.79 million for the quarter, compared to the consensus estimate of $596.92 million. On average, equities analysts predict that CrossAmerica Partners will post $0.30 earnings per share for the current fiscal year.
The company also recently disclosed 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 is a boost from CrossAmerica Partners’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, August 3rd. This represents a $2.49 annualized dividend and a yield of 9.49%. CrossAmerica Partners’s dividend payout ratio is currently -8,297.23%.
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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