CrossAmerica Partners (NYSE:CAPL) Director Joseph Jr. Topper Buys 1,801 Shares

Key Points

• Director Joseph Jr. Topper of CrossAmerica Partners purchased 1,801 shares of the stock at an average price of $19.74 per share, increasing his total ownership to approximately 1,859,450 shares.
• The company reported a net margin of 1.19% and missed earnings estimates with a quarterly earnings per share of $0.07, against an expected $0.20.
• CrossAmerica Partners declared a quarterly dividend of $0.525 per share, resulting in an annual yield of 10.5% with a payout ratio of 185.84%.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) Director Joseph Jr. Topper bought 1,801 shares of the stock in a transaction dated Friday, October 10th. The shares were purchased at an average price of $19.74 per share, with a total value of $35,551.74. Following the completion of the transaction, the director directly owned 1,859,450 shares in the company, valued at approximately $36,705,543. The trade was a 0.10% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CrossAmerica Partners Trading Up 0.5%

Shares of CAPL stock traded up $0.10 on Tuesday, reaching $20.03. The company's stock had a trading volume of 27,044 shares, compared to its average volume of 34,113. The stock's fifty day simple moving average is $20.65 and its 200-day simple moving average is $21.62. CrossAmerica Partners LP has a 1 year low of $19.50 and a 1 year high of $25.73. The company has a market capitalization of $763.51 million, a price-to-earnings ratio of 17.72 and a beta of 0.48.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.13). CrossAmerica Partners had a net margin of 1.19% and a negative return on equity of 32.78%. The business had revenue of $961.93 million during the quarter, compared to analysts' expectations of $793.52 million. Equities research analysts forecast that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were given a dividend of $0.525 per share. The ex-dividend date was Monday, August 4th. This represents a $2.10 dividend on an annualized basis and a yield of 10.5%. CrossAmerica Partners's dividend payout ratio is 185.84%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CAPL. Quadrant Private Wealth Management LLC lifted its holdings in CrossAmerica Partners by 0.4% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 165,262 shares of the oil and gas company's stock valued at $4,060,000 after buying an additional 719 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of CrossAmerica Partners during the first quarter worth approximately $33,000. Goldman Sachs Group Inc. raised its stake in shares of CrossAmerica Partners by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 39,040 shares of the oil and gas company's stock valued at $959,000 after acquiring an additional 1,375 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of CrossAmerica Partners by 3.8% in the first quarter. GSA Capital Partners LLP now owns 37,806 shares of the oil and gas company's stock valued at $929,000 after purchasing an additional 1,397 shares during the period. Finally, Osaic Holdings Inc. grew its stake in 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 purchasing an additional 3,812 shares in the last quarter. 24.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CAPL. Weiss Ratings restated a "hold (c)" rating on shares of CrossAmerica Partners in a research report on Wednesday, October 8th. Wall Street Zen upgraded CrossAmerica Partners from a "hold" rating to a "buy" rating in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, CrossAmerica Partners has a consensus rating of "Hold".

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.

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