CrossAmerica Partners (NYSE:CAPL) Stock Falls 5.1% – Here’s What Happened

CrossAmerica Partners LP (NYSE:CAPL) shares fell 5.1% during mid-day trading on Monday. The stock traded as low as $18.71 and last traded at $18.7640. Approximately 106,846 shares traded hands during trading, an increase of 148% from the average session volume of 43,124 shares. The stock had previously closed at $19.77.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CAPL shares. Weiss Ratings restated a “hold (c)” rating on shares of CrossAmerica Partners in a report on Tuesday, September 8th. Zacks Research cut shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold”.

CrossAmerica Partners Stock Up 0.4%

The firm has a market capitalization of $762.45 million, a price-to-earnings ratio of 16.11 and a beta of 0.29. The stock has a 50-day moving average price of $21.82 and a 200 day moving average price of $21.97.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, November 4th. The oil and gas company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.21). CrossAmerica Partners had a net margin of 1.24% and a negative return on equity of 38.02%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, equities analysts forecast that CrossAmerica Partners LP will post 1.07 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a dividend yield of 10.5%. The ex-dividend date of this dividend is Monday, November 2nd. CrossAmerica Partners’s payout ratio is 169.35%.

Hedge Funds Weigh In On CrossAmerica Partners

Several large investors have recently bought and sold shares of CAPL. NewEdge Advisors LLC lifted its holdings in CrossAmerica Partners by 40.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock worth $44,000 after buying an additional 600 shares during the last quarter. Gateway Wealth Partners LLC purchased a new stake in CrossAmerica Partners during the first quarter worth approximately $214,000. Commonwealth Equity Services LLC acquired a new position in CrossAmerica Partners in the third quarter valued at approximately $249,000. Sei Investments Co. acquired a new position in CrossAmerica Partners in the first quarter valued at approximately $278,000. Finally, NewEdge Wealth LLC boosted its holdings in CrossAmerica Partners by 1.3% in the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock valued at $1,953,000 after purchasing an additional 1,213 shares in the last quarter. Hedge funds and other institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP is a publicly traded master limited partnership focused on the wholesale distribution of motor fuel and the operation of convenience stores. It supplies branded and unbranded gasoline and diesel to independent dealers, lessee dealers, and company-operated locations. The partnership also owns or leases convenience-store properties and operates retail locations that sell fuel and convenience goods. Its network is concentrated in the eastern and central United States. CrossAmerica was formed as Lehigh Gas Partners LP and adopted its current name in 2014.