CrossAmerica Partners (NYSE:CAPL) Stock Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• CrossAmerica Partners (NYSE:CAPL) slipped below its 200-day moving average during Thursday trading, with shares falling as low as $20.40 before last trading around $21.26.
• The company beat earnings expectations in its latest quarter, reporting $0.26 EPS versus a forecast loss of $0.16, while revenue of $841.83 million also topped estimates.
• CrossAmerica Partners announced a quarterly dividend of $0.525 per share, equal to an annualized yield of about 9.9%, even as its payout ratio remains high at 140.94%.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.20 and traded as low as $20.40. CrossAmerica Partners shares last traded at $21.2610, with a volume of 67,849 shares traded.

Analyst Ratings Changes

Several research analysts have recently weighed in on CAPL shares. Weiss Ratings upgraded shares of CrossAmerica Partners from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of CrossAmerica Partners from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Finally, Zacks Research cut shares of CrossAmerica Partners from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

CrossAmerica Partners Stock Performance

The stock has a market capitalization of $810.68 million, a PE ratio of 14.27 and a beta of 0.29. The stock has a 50-day moving average price of $21.24 and a two-hundred day moving average price of $21.20.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.42. CrossAmerica Partners had a negative return on equity of 23.20% and a net margin of 1.64%.The firm had revenue of $841.83 million for the quarter, compared to analysts' expectations of $697.31 million. As a group, equities analysts predict that CrossAmerica Partners LP will post 0.43 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 4th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, May 4th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.9%. CrossAmerica Partners's payout ratio is 140.94%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAPL. Goldman Sachs Group Inc. lifted its stake in shares of CrossAmerica Partners by 3.7% during 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 buying an additional 1,375 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of CrossAmerica Partners during the 1st quarter valued at $535,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $12,774,000 after buying an additional 27,767 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of CrossAmerica Partners by 36.3% during the 2nd quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company's stock valued at $299,000 after buying an additional 3,812 shares in the last quarter. Finally, Eastern Bank purchased a new position in CrossAmerica Partners in the 3rd quarter worth approximately $26,000. Hedge funds and other institutional investors own 24.06% of the company's stock.

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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