CrossAmerica Partners LP (CAPL) Shares Bought by Harvest Fund Advisors LLC
Harvest Fund Advisors LLC raised its holdings in CrossAmerica Partners LP (NYSE:CAPL) by 4.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,075,007 shares of the oil and gas company’s stock after buying an additional 141,143 shares during the quarter. Harvest Fund Advisors LLC owned about 9.08% of CrossAmerica Partners worth $83,794,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Kayne Anderson Capital Advisors LP purchased a new stake in CrossAmerica Partners in the third quarter valued at about $272,000. Global X MANAGEMENT CO LLC increased its holdings in shares of CrossAmerica Partners by 3.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 308,664 shares of the oil and gas company’s stock valued at $8,411,000 after purchasing an additional 10,312 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of CrossAmerica Partners by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 127,775 shares of the oil and gas company’s stock valued at $3,482,000 after purchasing an additional 3,504 shares during the period. BB&T Investment Services Inc. acquired a new position in shares of CrossAmerica Partners in the second quarter valued at about $577,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of CrossAmerica Partners by 0.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 92,698 shares of the oil and gas company’s stock valued at $2,364,000 after purchasing an additional 303 shares during the period. Institutional investors own 36.06% of the company’s stock.
In related news, Director Joseph V. Jr. Topper bought 6,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average cost of $26.48 per share, with a total value of $166,824.00. Following the completion of the acquisition, the director now directly owns 163,544 shares in the company, valued at $4,330,645.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph V. Jr. Topper bought 39,057 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average cost of $27.52 per share, for a total transaction of $1,074,848.64. Following the completion of the acquisition, the director now owns 163,544 shares of the company’s stock, valued at $4,500,730.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 64,670 shares of company stock worth $1,759,355.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered CrossAmerica Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised CrossAmerica Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 30th. Royal Bank Of Canada cut their price objective on CrossAmerica Partners from $30.00 to $28.00 and set a “sector perform” rating on the stock in a report on Thursday, November 9th. Finally, Raymond James Financial, Inc. increased their price objective on CrossAmerica Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. CrossAmerica Partners currently has a consensus rating of “Hold” and an average target price of $30.20.
CrossAmerica Partners LP (CAPL) opened at $24.79 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $842.49, a PE ratio of 112.68, a PEG ratio of 371.85 and a beta of 1.32. CrossAmerica Partners LP has a 1-year low of $23.26 and a 1-year high of $29.80.
The business also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Monday, November 6th were issued a dividend of $0.6275 per share. This represents a $2.51 annualized dividend and a yield of 10.13%. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, November 3rd. CrossAmerica Partners’s dividend payout ratio (DPR) is -25,100,000.00%.
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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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