Raymond James Financial Inc. Makes New Investment in CrossAmerica Partners LP (NYSE:CAPL)

Raymond James Financial Inc. purchased a new stake in CrossAmerica Partners LP (NYSE:CAPL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 283,872 shares of the oil and gas company's stock, valued at approximately $6,245,000. Raymond James Financial Inc. owned about 0.75% of CrossAmerica Partners as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Allworth Financial LP acquired a new stake in shares of CrossAmerica Partners during the fourth quarter worth about $44,000. Sonora Investment Management Group LLC purchased a new position in CrossAmerica Partners in the 4th quarter valued at approximately $224,000. Franklin Resources Inc. acquired a new position in shares of CrossAmerica Partners in the third quarter worth $279,000. Sanctuary Advisors LLC increased its position in shares of CrossAmerica Partners by 5.7% during the third 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 period. Finally, Thrivent Financial for Lutherans raised its stake in shares of CrossAmerica Partners by 18.8% in the third quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company's stock valued at $560,000 after acquiring an additional 4,267 shares in the last quarter. 24.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised CrossAmerica Partners from a "buy" rating to a "strong-buy" rating in a research note on Monday.

CrossAmerica Partners Price Performance

Shares of CAPL traded up $0.10 during midday trading on Friday, reaching $24.32. The stock had a trading volume of 23,793 shares, compared to its average volume of 36,846. The company has a market cap of $925.62 million, a price-to-earnings ratio of 46.77 and a beta of 1.48. The company's fifty day simple moving average is $23.01 and its two-hundred day simple moving average is $21.84. CrossAmerica Partners LP has a 1-year low of $18.43 and a 1-year high of $24.50.

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

CrossAmerica Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 3rd were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 8.63%. The ex-dividend date was Monday, February 3rd. CrossAmerica Partners's dividend payout ratio (DPR) is 403.85%.

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.