CrossAmerica Partners (NYSE:CAPL) Shares Pass Above 50-Day Moving Average - Here's Why

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $21.74 and traded as high as $23.02. CrossAmerica Partners shares last traded at $22.56, with a volume of 59,305 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded CrossAmerica Partners from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 15th.

CrossAmerica Partners Stock Up 0.1 %

The company has a 50 day moving average price of $21.74 and a 200-day moving average price of $20.89. The company has a market cap of $859.36 million, a P/E ratio of 43.43 and a beta of 1.46.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.02. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.31 EPS. On average, research analysts expect that CrossAmerica Partners LP will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 3rd will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 9.30%. The ex-dividend date of this dividend is Monday, February 3rd. CrossAmerica Partners's payout ratio is currently 403.85%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sonora Investment Management Group LLC purchased a new stake in shares of CrossAmerica Partners in the fourth quarter valued at $224,000. Franklin Resources Inc. bought a new stake in shares of CrossAmerica Partners during the third quarter valued at approximately $279,000. Sanctuary Advisors LLC acquired a new stake in CrossAmerica Partners during the second quarter valued at approximately $348,000. Thrivent Financial for Lutherans increased its holdings in shares of CrossAmerica Partners by 18.8% during the third quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company's stock worth $560,000 after buying an additional 4,267 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of CrossAmerica Partners by 27.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,951 shares of the oil and gas company's stock valued at $637,000 after acquiring an additional 6,259 shares during the last quarter. Institutional investors and hedge funds own 24.06% of the company's stock.

CrossAmerica Partners Company Profile

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.