CrossAmerica Partners (NYSE:CAPL) Stock Price Passes Above 50 Day Moving Average - What's Next?

Key Points

• CrossAmerica Partners (CAPL) crossed above its 50‑day moving average of $21.74, trading as high as $22.19 and last at $21.98 on a volume of 21,005 shares.
• Analyst sentiment has turned positive with upgrades from Wall Street Zen (to Buy) and Zacks (to Strong‑Buy) while Weiss moved to Hold, leaving a MarketBeat average rating of Buy.
• The company beat on quarterly EPS ($0.16 vs. $0.05) and reported revenue of $2.69B vs. $748.01M estimates, and it pays a quarterly dividend of $0.525 (annualized $2.10) for a 9.6% yield despite a payout ratio of 203.88%.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $21.74 and traded as high as $22.19. CrossAmerica Partners shares last traded at $21.98, with a volume of 21,005 shares traded.

Wall Street Analysts Forecast Growth

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

CrossAmerica Partners Stock Up 0.1%

The firm has a market cap of $838.10 million, a price-to-earnings ratio of 21.34 and a beta of 0.39. The company's fifty day moving average is $21.74 and its 200 day moving average is $21.04.

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 (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. CrossAmerica Partners had a net margin of 1.14% and a negative return on equity of 9.43%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $748.01 million. On average, equities research analysts forecast that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its position in shares of CrossAmerica Partners by 22.9% during the 3rd quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company's stock worth $4,186,000 after purchasing an additional 37,093 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CrossAmerica Partners by 4.8% in 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 during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of CrossAmerica Partners in the 1st quarter valued at approximately $535,000. NewEdge Wealth LLC grew its stake in shares of CrossAmerica Partners by 25.4% in the third quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company's stock valued at $1,859,000 after buying an additional 18,798 shares in the last quarter. Finally, Lee Financial Co bought a new position in shares of CrossAmerica Partners in the third quarter valued at $379,000. 24.06% of the stock is 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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