CrossAmerica Partners (NYSE:CAPL) Sees Unusually-High Trading Volume - Here's Why

Key Points

• CrossAmerica Partners (NYSE:CAPL) upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased analyst confidence in the stock.
• The company's quarterly earnings showed a loss with earnings per share of $0.07, missing estimates by $0.13, but revenue exceeded expectations at $961.93 million.
• CrossAmerica Partners declared a quarterly dividend of $0.525 per share, representing an annualized yield of 10.1%, though the payout ratio is a high 185.84%.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) shares saw an uptick in trading volume on Wednesday . 25,223 shares changed hands during trading, a decline of 18% from the previous session's volume of 30,822 shares.The stock last traded at $20.84 and had previously closed at $20.81.

Analysts Set New Price Targets

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

CrossAmerica Partners Stock Performance

The company has a market capitalization of $786.61 million, a price-to-earnings ratio of 18.26 and a beta of 0.51. The business has a 50 day moving average price of $20.88 and a 200-day moving average price of $22.13.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its quarterly earnings data 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 company had revenue of $961.93 million during the quarter, compared to the consensus estimate of $793.52 million. CrossAmerica Partners had a net margin of 1.19% and a negative return on equity of 32.78%. As a group, equities analysts predict that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 10.2%. The ex-dividend date of this dividend was Monday, August 4th. CrossAmerica Partners's dividend payout ratio (DPR) is 185.84%.

Insider Buying and Selling at CrossAmerica Partners

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in CrossAmerica Partners in the 1st quarter valued at about $33,000. Private Advisor Group LLC bought a new position in shares of CrossAmerica Partners in the first quarter valued at approximately $205,000. Osaic Holdings Inc. grew its holdings 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 valued at $299,000 after acquiring an additional 3,812 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of CrossAmerica Partners during the first quarter valued at approximately $388,000. Finally, Acadian Asset Management LLC bought a new stake in CrossAmerica Partners during the first quarter worth $535,000. 24.06% of the stock is currently owned by hedge funds and other institutional investors.

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.