CrossAmerica Partners (NYSE:CAPL) Upgraded to "Buy" at Wall Street Zen

Key Points

• CrossAmerica Partners has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, suggesting a positive outlook for the stock.
• The company reported a net margin of 1.19% and had earnings per share (EPS) of $0.07, missing analysts' estimates significantly.
• Institutional investors own 24.06% of CrossAmerica Partners, indicating a steady interest from larger investment firms.

Wall Street Zen upgraded shares of CrossAmerica Partners (NYSE:CAPL - Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

CrossAmerica Partners Trading Up 0.6%

NYSE:CAPL traded up $0.12 on Friday, reaching $20.58. 9,791 shares of the stock traded hands, compared to its average volume of 35,359. The firm has a market capitalization of $784.32 million, a price-to-earnings ratio of 18.21 and a beta of 0.55. CrossAmerica Partners has a 1-year low of $19.05 and a 1-year high of $25.73. The company's 50 day moving average is $21.17 and its 200-day moving average is $22.37.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.13). The firm had revenue of $961.93 million during the quarter, compared to the consensus estimate of $793.52 million. CrossAmerica Partners had a negative return on equity of 32.78% and a net margin of 1.19%. On average, equities research analysts forecast that CrossAmerica Partners will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 4th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.10 annualized dividend and a yield of 10.2%. CrossAmerica Partners's payout ratio is 185.84%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CrossAmerica Partners by 2.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 582,849 shares of the oil and gas company's stock worth $14,321,000 after acquiring an additional 14,948 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of CrossAmerica Partners by 1.8% during the 1st quarter. Raymond James Financial Inc. now owns 288,932 shares of the oil and gas company's stock worth $7,099,000 after purchasing an additional 5,060 shares during the last quarter. Quadrant Private Wealth Management LLC grew its position in shares of CrossAmerica Partners by 0.4% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 165,991 shares of the oil and gas company's stock worth $3,473,000 after buying an additional 729 shares during the last quarter. LPL Financial LLC increased its stake in CrossAmerica Partners by 6.2% during the 4th quarter. LPL Financial LLC now owns 107,405 shares of the oil and gas company's stock valued at $2,363,000 after purchasing an additional 6,306 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in CrossAmerica Partners by 5.8% during the 4th quarter. Stifel Financial Corp now owns 44,469 shares of the oil and gas company's stock valued at $978,000 after acquiring an additional 2,423 shares during the period. 24.06% of the stock is owned by hedge funds and other institutional investors.

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.