CrossAmerica Partners (NYSE:CAPL) Sees Large Volume Increase - Here's Why

Key Points

• CrossAmerica Partners’ trading volume rose 40% to 64,467 shares, while the stock traded at $24.1750, above its prior close of $23.60.
• The company reported quarterly EPS of $0.50, beating the $0.38 consensus estimate, while revenue reached $1.18 billion versus expectations of $731.45 million. Analysts collectively rate the stock “Buy,” with recent upgrades to “Strong Buy.”
• CrossAmerica Partners paid a quarterly dividend of $0.525 per share, equivalent to an annualized $2.10 payout and an 8.6% yield, though its dividend payout ratio is elevated at 153.28%.

Shares of CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) saw unusually-high trading volume on Monday . 64,467 shares changed hands during mid-day trading, an increase of 40% from the previous session's volume of 46,150 shares.The stock last traded at $24.1750 and had previously closed at $23.60.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CAPL shares. Weiss Ratings upgraded CrossAmerica Partners from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Wall Street Zen upgraded shares of CrossAmerica Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded shares of CrossAmerica Partners from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy".

CrossAmerica Partners Price Performance

The firm has a fifty day moving average of $22.19 and a two-hundred day moving average of $21.89. The stock has a market capitalization of $927.03 million, a P/E ratio of 17.73 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.12. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $731.45 million. As a group, sell-side analysts forecast that CrossAmerica Partners LP will post 1.2 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.525 per share. The ex-dividend date was Monday, August 3rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.6%. CrossAmerica Partners's dividend payout ratio (DPR) is currently 153.28%.

Hedge Funds Weigh In On CrossAmerica Partners

Several institutional investors have recently bought and sold shares of the business. First Trust Advisors LP boosted its holdings in shares of CrossAmerica Partners by 22.9% in the 3rd quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company's stock valued at $4,186,000 after buying an additional 37,093 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 worth $12,774,000 after acquiring an additional 27,767 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of CrossAmerica Partners during the 1st quarter worth approximately $535,000. Raymond James Financial Inc. lifted its position in CrossAmerica Partners by 4.8% during the third quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company's stock valued at $6,272,000 after acquiring an additional 13,767 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in CrossAmerica Partners during the first quarter valued at approximately $278,000. 24.06% of the stock is owned by hedge funds and other institutional investors.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP NYSE: CAPL is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco's wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.

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