CrossAmerica Partners (NYSE:CAPL) Shares Pass Above Fifty Day Moving Average of $22.42

CrossAmerica Partners LP (NYSE:CAPL)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $22.42 and traded as high as $23.60. CrossAmerica Partners shares last traded at $23.15, with a volume of 52,885 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, TheStreet downgraded shares of CrossAmerica Partners from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th.

CrossAmerica Partners Price Performance

The company has a current ratio of 0.67, a quick ratio of 0.35 and a debt-to-equity ratio of 250.71. The business’s fifty day moving average is $22.42 and its 200 day moving average is $22.55. The company has a market cap of $879.24 million, a P/E ratio of 22.05 and a beta of 1.53.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Monday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.11 billion. CrossAmerica Partners had a return on equity of 197.82% and a net margin of 0.93%. As a group, sell-side analysts anticipate that CrossAmerica Partners LP will post 0.71 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.10 dividend on an annualized basis and a yield of 9.07%. CrossAmerica Partners’s dividend payout ratio is presently 200.00%.

Institutional Trading of CrossAmerica Partners

Several hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new position in CrossAmerica Partners in the 3rd quarter valued at approximately $205,000. American Financial Group Inc. raised its stake in shares of CrossAmerica Partners by 4.3% during the 3rd 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. SpiderRock Advisors LLC purchased a new stake in CrossAmerica Partners during the 1st quarter worth about $325,000. Apollon Wealth Management LLC raised its position in CrossAmerica Partners by 3.3% in the 4th quarter. Apollon Wealth Management LLC now owns 15,154 shares of the oil and gas company’s stock worth $346,000 after purchasing an additional 489 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in CrossAmerica Partners by 24.5% in the third quarter. Exchange Traded Concepts LLC now owns 21,350 shares of the oil and gas company’s stock worth $463,000 after purchasing an additional 4,202 shares during the last quarter. Institutional investors own 24.06% of the company’s stock.

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.