CrossAmerica Partners (NYSE:CAPL) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of CrossAmerica Partners (NYSE:CAPL - Free Report) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.

CrossAmerica Partners Stock Performance

Shares of CrossAmerica Partners stock traded up $0.64 during trading on Wednesday, hitting $20.90. The company's stock had a trading volume of 30,984 shares, compared to its average volume of 25,273. CrossAmerica Partners has a 52 week low of $18.43 and a 52 week high of $24.19. The company has a fifty day simple moving average of $20.90 and a two-hundred day simple moving average of $20.52. The company has a market capitalization of $794.83 million, a PE ratio of 37.32 and a beta of 1.50.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 EPS for the quarter, topping analysts' consensus estimates 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 negative return on equity of 314.20% and a net margin of 0.51%. As a group, analysts predict that CrossAmerica Partners will post 0.46 EPS for the current year.

CrossAmerica Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Monday, November 4th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 10.05%. The ex-dividend date of this dividend is Monday, November 4th. CrossAmerica Partners's payout ratio is 375.00%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors have recently made changes to their positions in CAPL. Sanctuary Advisors LLC purchased a new position in CrossAmerica Partners in the 2nd quarter worth about $348,000. IFG Advisory LLC bought a new stake in CrossAmerica Partners in the 2nd quarter worth approximately $332,000. GSA Capital Partners LLP raised its stake in CrossAmerica Partners by 79.7% during the 1st quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company's stock valued at $830,000 after buying an additional 16,153 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of CrossAmerica Partners during the 1st quarter valued at $205,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of CrossAmerica Partners by 376.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company's stock worth $51,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other 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.