StockNews.com Downgrades CrossAmerica Partners (NYSE:CAPL) to Buy

StockNews.com downgraded shares of CrossAmerica Partners (NYSE:CAPL - Free Report) from a strong-buy rating to a buy rating in a research report report published on Sunday.

CrossAmerica Partners Trading Down 2.2 %

NYSE CAPL traded down $0.48 on Friday, reaching $21.10. 18,327 shares of the stock were exchanged, compared to its average volume of 36,547. CrossAmerica Partners has a one year low of $18.43 and a one year high of $24.19. The firm has a market capitalization of $802.37 million, a PE ratio of 34.59 and a beta of 1.51. The company's 50-day simple moving average is $20.61 and its two-hundred day simple moving average is $20.66.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.27 billion. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. Sell-side analysts forecast that CrossAmerica Partners will post 0.46 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 9.95%. The ex-dividend date was Friday, August 2nd. CrossAmerica Partners's dividend payout ratio is presently 344.26%.

Institutional Investors Weigh In On CrossAmerica Partners

Several large investors have recently bought and sold shares of CAPL. SpiderRock Advisors LLC bought a new stake in CrossAmerica Partners in the first quarter worth $325,000. BNP Paribas Financial Markets boosted its stake in CrossAmerica Partners by 1.9% during the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company's stock worth $706,000 after buying an additional 565 shares during the period. Janney Montgomery Scott LLC boosted its stake in CrossAmerica Partners by 10.0% during the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company's stock worth $470,000 after buying an additional 1,872 shares during the period. GSA Capital Partners LLP boosted its stake in CrossAmerica Partners by 79.7% during the first quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company's stock worth $830,000 after buying an additional 16,153 shares during the period. Finally, American Financial Group Inc. boosted its stake in CrossAmerica Partners by 3.7% during the first quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company's stock worth $319,000 after buying an additional 500 shares during the period. 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.