CrossAmerica Partners (NYSE:CAPL) Shares Gap Down to $22.83

CrossAmerica Partners LP (NYSE:CAPL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $22.83, but opened at $21.98. CrossAmerica Partners shares last traded at $22.57, with a volume of 10,433 shares trading hands.

Analysts Set New Price Targets

Separately, TheStreet lowered CrossAmerica Partners from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th.

CrossAmerica Partners Stock Up 0.1 %

The stock has a market capitalization of $867.84 million, a price-to-earnings ratio of 21.74 and a beta of 1.53. The business has a fifty day moving average of $22.37 and a 200 day moving average of $22.16. The company has a debt-to-equity ratio of 250.71, a current ratio of 0.67 and a quick ratio of 0.35.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. CrossAmerica Partners had a return on equity of 197.82% and a net margin of 0.93%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.11 billion. As a group, equities analysts predict that CrossAmerica Partners LP will post 0.95 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, February 2nd were paid a $0.525 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $2.10 annualized dividend and a yield of 9.19%. CrossAmerica Partners’s dividend payout ratio is presently 200.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its holdings in CrossAmerica Partners by 3.3% in the fourth quarter. Apollon Wealth Management LLC now owns 15,154 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 489 shares during the last quarter. American Financial Group Inc. raised its position in CrossAmerica Partners by 4.3% in the third quarter. American Financial Group Inc. now owns 12,000 shares of the oil and gas company’s stock valued at $260,000 after purchasing an additional 500 shares during the period. LPL Financial LLC raised its position in CrossAmerica Partners by 2.4% in the first quarter. LPL Financial LLC now owns 32,003 shares of the oil and gas company’s stock valued at $688,000 after purchasing an additional 750 shares during the period. Raymond James & Associates increased its position in shares of CrossAmerica Partners by 0.9% during the fourth quarter. Raymond James & Associates now owns 87,923 shares of the oil and gas company’s stock worth $2,005,000 after acquiring an additional 774 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its position in shares of CrossAmerica Partners by 7.6% during the first quarter. Vident Investment Advisory LLC now owns 15,611 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 1,098 shares during the last quarter. 24.06% of the stock is owned by hedge funds and other institutional investors.

About CrossAmerica Partners

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.