Ellsworth Advisors LLC Takes Position in CrossAmerica Partners LP $CAPL

Key Points

• Ellsworth Advisors LLC has made a new investment in CrossAmerica Partners LP, acquiring 26,387 shares valued at approximately $648,000.
• CrossAmerica Partners recently declared a quarterly dividend of $0.525 per share, reflecting a significant annualized dividend yield of 10.2%.
• Analysts upgraded CrossAmerica Partners from a "hold" to a "buy" rating, signaling increased investor confidence in the stock's performance.

Ellsworth Advisors LLC bought a new position in CrossAmerica Partners LP (NYSE:CAPL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 26,387 shares of the oil and gas company's stock, valued at approximately $648,000. Ellsworth Advisors LLC owned 0.07% of CrossAmerica Partners as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CAPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CrossAmerica Partners by 2.6% in 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 buying an additional 14,948 shares during the period. Raymond James Financial Inc. raised its stake in shares of CrossAmerica Partners by 1.8% in the first quarter. Raymond James Financial Inc. now owns 288,932 shares of the oil and gas company's stock worth $7,099,000 after buying an additional 5,060 shares during the period. Quadrant Private Wealth Management LLC raised its stake in shares of CrossAmerica Partners by 0.4% in the first quarter. Quadrant Private Wealth Management LLC now owns 165,262 shares of the oil and gas company's stock worth $4,060,000 after buying an additional 719 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of CrossAmerica Partners by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 39,040 shares of the oil and gas company's stock worth $959,000 after acquiring an additional 1,375 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of CrossAmerica Partners by 3.8% in the first quarter. GSA Capital Partners LLP now owns 37,806 shares of the oil and gas company's stock worth $929,000 after acquiring an additional 1,397 shares during the period. 24.06% of the stock is owned by institutional investors.

CrossAmerica Partners Trading Down 0.4%

Shares of NYSE:CAPL traded down $0.09 during trading on Wednesday, reaching $21.06. The company's stock had a trading volume of 13,897 shares, compared to its average volume of 34,414. CrossAmerica Partners LP has a 12 month low of $19.50 and a 12 month high of $25.73. The firm's 50 day simple moving average is $20.85 and its two-hundred day simple moving average is $22.02. The stock has a market capitalization of $802.81 million, a PE ratio of 18.64 and a beta of 0.51.

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

CrossAmerica Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 10.0%. The ex-dividend date was Monday, August 4th. CrossAmerica Partners's dividend payout ratio is presently 185.84%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised CrossAmerica Partners from a "hold" rating to a "buy" rating in a research note on Monday, August 25th.

Insider Activity

In other news, Director Joseph V. Jr. Topper bought 2,706 shares of CrossAmerica Partners stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $20.01 per share, for a total transaction of $54,147.06. Following the completion of the acquisition, the director owned 1,857,649 shares of the company's stock, valued at $37,171,556.49. This trade represents a 0.15% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Reilly III bought 2,706 shares of CrossAmerica Partners stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price of $20.01 per share, with a total value of $54,147.06. Following the completion of the acquisition, the director directly owned 4,967,317 shares of the company's stock, valued at $99,396,013.17. This represents a 0.05% increase in their position. The disclosure for this purchase can be found here. 52.00% of the stock is owned by corporate insiders.

CrossAmerica Partners 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.