CrossAmerica Partners (NYSE:CAPL) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of CrossAmerica Partners (NYSE:CAPL – Get Rating) from a buy rating to a strong-buy rating in a research report sent to investors on Monday.

CrossAmerica Partners Stock Performance

CAPL opened at $21.26 on Monday. The company has a market capitalization of $806.60 million, a price-to-earnings ratio of 13.12 and a beta of 1.72. The company has a debt-to-equity ratio of 14.38, a current ratio of 0.68 and a quick ratio of 0.41. CrossAmerica Partners has a 1-year low of $18.32 and a 1-year high of $23.29. The business has a 50 day moving average price of $21.41 and a two-hundred day moving average price of $20.44.

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 10th. Shareholders of record on Friday, February 3rd were given a $0.525 dividend. The ex-dividend date of this dividend was Thursday, February 2nd. This represents a $2.10 dividend on an annualized basis and a yield of 9.88%. CrossAmerica Partners’s dividend payout ratio (DPR) is 129.63%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CrossAmerica Partners by 4.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 713,497 shares of the oil and gas company’s stock valued at $14,149,000 after acquiring an additional 28,040 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of CrossAmerica Partners by 4.3% during the 4th quarter. Clearbridge Investments LLC now owns 699,335 shares of the oil and gas company’s stock valued at $13,868,000 after acquiring an additional 28,800 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CrossAmerica Partners by 3,387,158.3% during the 4th quarter. JPMorgan Chase & Co. now owns 406,471 shares of the oil and gas company’s stock valued at $8,060,000 after acquiring an additional 406,459 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of CrossAmerica Partners by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 313,052 shares of the oil and gas company’s stock valued at $6,827,000 after acquiring an additional 68,459 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of CrossAmerica Partners by 22.3% during the 4th quarter. First Trust Advisors LP now owns 254,943 shares of the oil and gas company’s stock valued at $5,056,000 after acquiring an additional 46,537 shares during the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

About CrossAmerica Partners

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CrossAmerica Partners LP engages in the wholesale distribution of motor fuels and owning and leasing of real estate used in the retail distribution of motor fuels. It operates through the following segments: Wholesale and Retail. The Wholesale segment distributes branded motor fuels such as ExxonMobil, BP, Motiva, Chevron, Sunoco, Valero, Gulf, Citgo, and Marathon.