CrossAmerica Partners (NYSE:CAPL) Sets New 52-Week High - Still a Buy?

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.80 and last traded at $23.16, with a volume of 24184 shares traded. The stock had previously closed at $23.22.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of CrossAmerica Partners from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th.

CrossAmerica Partners Price Performance

The company has a fifty day moving average of $22.55 and a two-hundred day moving average of $21.43. The stock has a market capitalization of $885.16 million, a P/E ratio of 44.74 and a beta of 1.47.

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

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CrossAmerica Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 3rd were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 9.03%. The ex-dividend date of this dividend was Monday, February 3rd. CrossAmerica Partners's dividend payout ratio (DPR) is presently 403.85%.

Institutional Investors Weigh In On CrossAmerica Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of CrossAmerica Partners by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company's stock valued at $12,494,000 after purchasing an additional 28,758 shares during the last quarter. JPMorgan Chase & Co. boosted its position in CrossAmerica Partners by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company's stock valued at $7,485,000 after purchasing an additional 28,991 shares during the period. Raymond James Financial Inc. bought a new position in CrossAmerica Partners during the 4th quarter worth $6,245,000. Quadrant Private Wealth Management LLC increased its position in CrossAmerica Partners by 0.5% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 164,543 shares of the oil and gas company's stock worth $3,620,000 after buying an additional 775 shares during the period. Finally, LPL Financial LLC lifted its stake in CrossAmerica Partners by 6.2% in the fourth quarter. LPL Financial LLC now owns 107,405 shares of the oil and gas company's stock valued at $2,363,000 after buying an additional 6,306 shares during the last quarter. Institutional investors and hedge funds 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.