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

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $20.97 and traded as high as $21.65. CrossAmerica Partners shares last traded at $21.58, with a volume of 15,986 shares.

Analysts Set New Price Targets

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

CrossAmerica Partners Price Performance

The business has a 50-day simple moving average of $20.96 and a 200 day simple moving average of $20.47. The firm has a market cap of $821.82 million, a PE ratio of 41.54 and a beta of 1.48.

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

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Monday, November 4th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.72%. CrossAmerica Partners's dividend payout ratio is currently 403.85%.

Hedge Funds Weigh In On CrossAmerica Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. bought a new position in shares of CrossAmerica Partners during the 3rd quarter valued at approximately $279,000. Sanctuary Advisors LLC lifted its holdings in shares of CrossAmerica Partners by 5.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company's stock worth $377,000 after acquiring an additional 1,000 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of CrossAmerica Partners by 18.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company's stock worth $560,000 after acquiring an additional 4,267 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of CrossAmerica Partners by 376.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company's stock worth $51,000 after purchasing an additional 2,000 shares during the period. Finally, IFG Advisory LLC bought a new position in CrossAmerica Partners during the 2nd quarter valued at about $332,000. 24.06% of the stock is owned by hedge funds and other institutional investors.

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.