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

Key Points

• CrossAmerica Partners (NYSE:CAPL) experienced an unusually-high trading volume, with approximately 41,156 shares traded on Monday, marking a 19% increase from the previous session.
• The company's stock price dropped 4.8% to $20.40, down from a previous close of $21.03, following a quarterly earnings report that showed a loss in earnings per share.
• CrossAmerica Partners recently announced a quarterly dividend of $0.525 per share, leading to a 10.5% dividend yield for stockholders, which is indicative of a high dividend payout ratio of 262.50%.

Shares of CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) saw unusually-high trading volume on Monday . Approximately 41,156 shares changed hands during mid-day trading, an increase of 19% from the previous session's volume of 34,723 shares.The stock last traded at $20.40 and had previously closed at $21.03.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of CrossAmerica Partners from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th.

CrossAmerica Partners Stock Down 4.8%

The company has a 50 day simple moving average of $21.45 and a 200-day simple moving average of $22.48. The stock has a market capitalization of $763.14 million, a price-to-earnings ratio of 25.04 and a beta of 0.55.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.14). CrossAmerica Partners had a net margin of 0.80% and a negative return on equity of 45.12%. The business had revenue of $862.48 million during the quarter, compared to analyst estimates of $735.09 million. As a group, sell-side analysts anticipate that CrossAmerica Partners LP will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 4th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date of this dividend is Monday, August 4th. CrossAmerica Partners's dividend payout ratio is presently 262.50%.

Hedge Funds Weigh In On CrossAmerica Partners

A number of institutional investors have recently modified their holdings of CAPL. SVB Wealth LLC acquired a new position in shares of CrossAmerica Partners during the first quarter worth approximately $33,000. Private Advisor Group LLC acquired a new position in shares of CrossAmerica Partners during the first quarter worth approximately $205,000. Kestra Private Wealth Services LLC acquired a new position in shares of CrossAmerica Partners during the first quarter worth approximately $388,000. Acadian Asset Management LLC acquired a new position in shares of CrossAmerica Partners during the first quarter worth approximately $535,000. Finally, Ellsworth Advisors LLC acquired a new position in shares of CrossAmerica Partners during the first quarter worth approximately $648,000. 24.06% of the stock is owned by institutional investors and hedge funds.

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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