CrossAmerica Partners (NYSE:CAPL) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• CrossAmerica Partners shares moved above their 50-day moving average of $21.88, trading as high as $22.14, indicating a short-term technical breakout.
• Several firms recently upgraded the stock (Weiss, Wall Street Zen, Zacks), leaving MarketBeat's average rating at Buy.
• The company beat quarterly expectations (EPS $0.16 vs. $0.05 expected; revenue much higher than estimates) and pays a quarterly dividend of $0.525 (annualized yield 9.6%), but the payout ratio of 203.88% raises sustainability concerns.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $21.88 and traded as high as $22.14. CrossAmerica Partners shares last traded at $21.95, with a volume of 16,574 shares.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings upgraded CrossAmerica Partners from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 2nd. Wall Street Zen upgraded shares of CrossAmerica Partners from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Finally, Zacks Research raised shares of CrossAmerica Partners from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, CrossAmerica Partners currently has an average rating of "Buy".

CrossAmerica Partners Price Performance

The company has a market cap of $837.06 million, a PE ratio of 21.31 and a beta of 0.39. The stock has a fifty day moving average price of $21.88 and a 200-day moving average price of $21.08.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.11. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $748.01 million. CrossAmerica Partners had a negative return on equity of 9.43% and a net margin of 1.14%. On average, equities analysts anticipate that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Monday, February 2nd. CrossAmerica Partners's payout ratio is 203.88%.

Institutional Trading of CrossAmerica Partners

Institutional investors have recently made changes to their positions in the stock. Eastern Bank purchased a new position in CrossAmerica Partners during the third quarter valued at approximately $26,000. CWM LLC lifted its position in CrossAmerica Partners by 35.5% in the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company's stock worth $70,000 after buying an additional 887 shares in the last quarter. Wells Fargo & Company MN lifted its position in CrossAmerica Partners by 43.3% in the 4th quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company's stock worth $128,000 after buying an additional 1,869 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of CrossAmerica Partners by 48.7% during the 4th quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company's stock valued at $153,000 after buying an additional 2,422 shares during the period. Finally, Motiv8 Investments LLC acquired a new stake in shares of CrossAmerica Partners during the 4th quarter valued at $193,000. 24.06% of the stock is currently owned by institutional investors and hedge funds.

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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