CrossAmerica Partners (NYSE:CAPL) Stock Price Crosses Above 50 Day Moving Average - Here's Why

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report)'s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $21.59 and traded as high as $21.86. CrossAmerica Partners shares last traded at $21.67, with a volume of 21,288 shares.

Wall Street Analyst Weigh In

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

CrossAmerica Partners Trading Up 0.3%

The stock has a market capitalization of $845.25 million, a PE ratio of 27.73 and a beta of 0.57. The firm's 50-day simple moving average is $21.52 and its two-hundred day simple moving average is $22.49.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.14). The firm had revenue of $862.48 million for the quarter, compared to analysts' expectations of $735.09 million. CrossAmerica Partners had a negative return on equity of 45.12% and a net margin of 0.80%. As a group, research analysts expect that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 4th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.47%. The ex-dividend date of this dividend is Monday, August 4th. CrossAmerica Partners's dividend payout ratio (DPR) is currently 262.50%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors have recently modified their holdings of CAPL. SVB Wealth LLC acquired a new stake in shares of CrossAmerica Partners in the 1st quarter valued at $33,000. Private Advisor Group LLC acquired a new stake in shares of CrossAmerica Partners in the 1st quarter valued at $205,000. Kestra Private Wealth Services LLC acquired a new stake in shares of CrossAmerica Partners in the 1st quarter valued at $388,000. Acadian Asset Management LLC acquired a new stake in shares of CrossAmerica Partners in the 1st quarter valued at $535,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of CrossAmerica Partners by 4.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 25,500 shares of the oil and gas company's stock valued at $561,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 24.06% of the company's stock.

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.