Short Interest in CrossAmerica Partners LP (NYSE:CAPL) Decreases By 22.0%

Key Points

• Short Interest Decline: CrossAmerica Partners LP experienced a 22.0% decrease in short interest in August, dropping from 63,500 shares to 49,500 shares as of August 31st.
• Dividend Payment: The company paid a quarterly dividend of $0.525 per share on August 14th, translating to an annualized dividend yield of 9.9%.
• Earnings Report Overview: In its last earnings report, CrossAmerica Partners missed analysts' expectations, posting an EPS of $0.07 compared to the consensus estimate of $0.20.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 49,500 shares, a decline of 22.0% from the August 15th total of 63,500 shares. Based on an average daily volume of 30,700 shares, the short-interest ratio is presently 1.6 days. Approximately 0.3% of the company's shares are sold short. Approximately 0.3% of the company's shares are sold short. Based on an average daily volume of 30,700 shares, the short-interest ratio is presently 1.6 days.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of CrossAmerica Partners from a "hold" rating to a "buy" rating in a research report on Monday, August 25th.

CrossAmerica Partners Trading Up 1.5%

Shares of CAPL stock traded up $0.32 during midday trading on Thursday, reaching $21.39. 29,203 shares of the stock were exchanged, compared to its average volume of 24,764. The firm has a market cap of $815.39 million, a PE ratio of 18.93 and a beta of 0.51. The company's 50 day moving average is $20.87 and its two-hundred day moving average is $22.00. CrossAmerica Partners has a 1 year low of $19.50 and a 1 year high of $25.73.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.13). The firm had revenue of $961.93 million during the quarter, compared to analysts' expectations of $793.52 million. CrossAmerica Partners had a negative return on equity of 32.78% and a net margin of 1.19%. As a group, equities analysts expect that CrossAmerica Partners will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date was Monday, August 4th. CrossAmerica Partners's dividend payout ratio is 185.84%.

Insider Transactions at CrossAmerica Partners

In other CrossAmerica Partners news, Director John B. Reilly III bought 2,706 shares of CrossAmerica Partners stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $20.01 per share, with a total value of $54,147.06. Following the completion of the purchase, the director owned 4,967,317 shares of the company's stock, valued at approximately $99,396,013.17. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph V. Jr. Topper bought 2,706 shares of CrossAmerica Partners stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $20.01 per share, for a total transaction of $54,147.06. Following the completion of the purchase, the director directly owned 1,857,649 shares of the company's stock, valued at approximately $37,171,556.49. This trade represents a 0.15% increase in their position. The disclosure for this purchase can be found here. 52.00% of the stock is owned by insiders.

Institutional Investors Weigh In On CrossAmerica Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of CAPL. Osaic Holdings Inc. grew its stake in shares of CrossAmerica Partners by 36.3% in the second quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company's stock worth $299,000 after acquiring an additional 3,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CrossAmerica Partners by 4.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company's stock valued at $12,774,000 after purchasing an additional 27,767 shares during the last quarter. Quadrant Private Wealth Management LLC grew its position in CrossAmerica Partners by 0.4% during the 2nd quarter. Quadrant Private Wealth Management LLC now owns 165,991 shares of the oil and gas company's stock valued at $3,473,000 after purchasing an additional 729 shares during the last quarter. Goldman Sachs Group Inc. grew its position in CrossAmerica Partners by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 39,040 shares of the oil and gas company's stock valued at $959,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Ellsworth Advisors LLC purchased a new stake in shares of CrossAmerica Partners during the first quarter valued at approximately $648,000. Hedge funds and other institutional investors 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.