Kestra Private Wealth Services LLC Acquires New Holdings in CrossAmerica Partners LP (NYSE:CAPL)

Key Points

• Kestra Private Wealth Services LLC acquired a new stake in CrossAmerica Partners LP, purchasing 15,811 shares valued at approximately $388,000 during the first quarter.
• CrossAmerica Partners recently declared a quarterly dividend of $0.525 per share, providing an annualized yield of 9.47% with an ex-dividend date set for August 4th.
• Wall Street analysts upgraded CrossAmerica Partners' rating from "buy" to "strong-buy", reflecting increasing confidence in the company's performance amid recent earnings results.

Kestra Private Wealth Services LLC acquired a new stake in shares of CrossAmerica Partners LP (NYSE:CAPL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,811 shares of the oil and gas company's stock, valued at approximately $388,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAPL. Private Advisor Group LLC bought a new position in CrossAmerica Partners during the first quarter valued at approximately $205,000. CIBC Private Wealth Group LLC raised its position in CrossAmerica Partners by 4.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 25,500 shares of the oil and gas company's stock valued at $561,000 after acquiring an additional 1,000 shares in the last quarter. Thrivent Financial for Lutherans raised its position in CrossAmerica Partners by 6.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 28,768 shares of the oil and gas company's stock valued at $633,000 after acquiring an additional 1,747 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in CrossAmerica Partners by 50.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,596 shares of the oil and gas company's stock valued at $752,000 after acquiring an additional 10,269 shares in the last quarter. Finally, Stifel Financial Corp raised its position in CrossAmerica Partners by 5.8% during the fourth 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 in the last quarter. Institutional investors own 24.06% of the company's stock.

Analyst Ratings Changes

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

CrossAmerica Partners Stock Up 0.3%

NYSE:CAPL opened at $22.19 on Friday. CrossAmerica Partners LP has a 12 month low of $18.43 and a 12 month high of $25.73. The firm has a market cap of $845.25 million, a price-to-earnings ratio of 27.73 and a beta of 0.57. The company's 50 day moving average is $21.52 and its 200-day moving average is $22.50.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.14). CrossAmerica Partners had a net margin of 0.80% and a negative return on equity of 45.12%. The firm had revenue of $862.48 million during the quarter, compared to the consensus estimate of $735.09 million. Research analysts predict that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 4th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.47%. The ex-dividend date is Monday, August 4th. CrossAmerica Partners's dividend payout ratio is 262.50%.

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.

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