CrossAmerica Partners (NYSE:CAPL) Reaches New 1-Year High - Here's What Happened

Shares of CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.97 and last traded at $24.56, with a volume of 60260 shares changing hands. The stock had previously closed at $24.33.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised CrossAmerica Partners from a "buy" rating to a "strong-buy" rating in a report on Monday, March 24th.

CrossAmerica Partners Stock Down 9.9 %

The firm has a market capitalization of $848.62 million, a price-to-earnings ratio of 42.88 and a beta of 1.48. The firm's 50 day moving average is $23.25 and its 200 day moving average is $21.99.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.38. The company had revenue of $944.22 million during the quarter, compared to the consensus estimate of $1.21 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. On average, sell-side analysts predict that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were issued a $0.525 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.42%. CrossAmerica Partners's payout ratio is currently 403.85%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CAPL. Sanctuary Advisors LLC boosted its stake in shares of CrossAmerica Partners by 5.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company's stock valued at $377,000 after buying an additional 1,000 shares during the period. Franklin Resources Inc. purchased a new position in CrossAmerica Partners in the third quarter valued at about $279,000. JPMorgan Chase & Co. increased its position in CrossAmerica Partners by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company's stock worth $7,485,000 after purchasing an additional 28,991 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of CrossAmerica Partners by 27.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,951 shares of the oil and gas company's stock worth $637,000 after purchasing an additional 6,259 shares in the last quarter. Finally, Sonora Investment Management Group LLC purchased a new stake in shares of CrossAmerica Partners during the 4th quarter worth about $224,000. 24.06% of the stock is owned by institutional investors and hedge funds.

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.