CrossAmerica Partners (NYSE:CAPL) Cut to Hold at Wall Street Zen

Key Points

• CrossAmerica Partners was downgraded from a "buy" to a "hold" rating by Wall Street Zen, impacting market sentiment.
• The company's stock has decreased by 2.8% and is trading at $20.23, with a twelve-month low of $19.05.
• CrossAmerica reported $0.07 EPS for the last quarter, significantly missing the expected consensus of $0.20.

Wall Street Zen lowered shares of CrossAmerica Partners (NYSE:CAPL - Free Report) from a buy rating to a hold rating in a report issued on Sunday.

CrossAmerica Partners Price Performance

CrossAmerica Partners stock traded up $0.0110 during midday trading on Friday, hitting $20.4810. 5,482 shares of the company were exchanged, compared to its average volume of 35,492. The company's fifty day moving average price is $21.03 and its 200-day moving average price is $22.28. The company has a market cap of $780.74 million, a PE ratio of 18.12 and a beta of 0.55. CrossAmerica Partners has a fifty-two week low of $19.05 and a fifty-two week high of $25.73.

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

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.10 annualized dividend and a yield of 10.3%. CrossAmerica Partners's payout ratio is 185.84%.

Insider Buying and Selling

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

Hedge Funds Weigh In On CrossAmerica Partners

A number of institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CrossAmerica Partners by 4.8% in 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 in the last quarter. Raymond James Financial Inc. raised its position in shares of CrossAmerica Partners by 1.8% in the 1st quarter. Raymond James Financial Inc. now owns 288,932 shares of the oil and gas company's stock valued at $7,099,000 after purchasing an additional 5,060 shares in the last quarter. Quadrant Private Wealth Management LLC raised its position in shares of CrossAmerica Partners by 0.4% in 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 in the last quarter. Stifel Financial Corp raised its position in shares of CrossAmerica Partners by 5.8% in the 4th quarter. Stifel Financial Corp now owns 44,469 shares of the oil and gas company's stock valued at $978,000 after purchasing an additional 2,423 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of CrossAmerica Partners by 3.7% in 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 in the last quarter. 24.06% of the stock is owned by institutional investors and hedge funds.

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.