CrossAmerica Partners (NYSE:CAPL) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of CrossAmerica Partners (NYSE:CAPL) from a hold rating to a buy rating in a research note released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CrossAmerica Partners in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

CrossAmerica Partners Trading Down 0.7%

CAPL stock opened at $20.13 on Friday. The firm has a 50-day moving average of $21.60 and a two-hundred day moving average of $20.98. CrossAmerica Partners has a 12 month low of $19.61 and a 12 month high of $25.73. The company has a market cap of $767.56 million, a price-to-earnings ratio of 19.54 and a beta of 0.37.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.11. CrossAmerica Partners had a negative return on equity of 9.84% and a net margin of 1.14%.The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $748.01 million. As a group, equities analysts forecast that CrossAmerica Partners will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $2.10 annualized dividend and a yield of 10.4%. CrossAmerica Partners’s dividend payout ratio (DPR) is 203.88%.

Hedge Funds Weigh In On CrossAmerica Partners

A number of hedge funds have recently modified their holdings of the business. Eastern Bank purchased a new stake in CrossAmerica Partners in the 3rd quarter valued at about $26,000. CWM LLC increased its position in shares of CrossAmerica Partners by 35.5% during the fourth quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock valued at $70,000 after acquiring an additional 887 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of CrossAmerica Partners by 43.3% in the 4th quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock valued at $128,000 after acquiring an additional 1,869 shares during the period. Royal Bank of Canada raised its stake in shares of CrossAmerica Partners by 48.7% in the 4th quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock valued at $153,000 after acquiring an additional 2,422 shares during the period. Finally, Motiv8 Investments LLC acquired a new position in shares of CrossAmerica Partners in the 4th quarter worth approximately $193,000. 24.06% of the stock is currently owned by hedge funds and other institutional investors.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.