CrossAmerica Partners (NYSE:CAPL) Shares Gap Up to $22.70

Shares of CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $22.70, but opened at $23.36. CrossAmerica Partners shares last traded at $23.34, with a volume of 14,226 shares traded.

Analysts Set New Price Targets

Separately, TheStreet downgraded CrossAmerica Partners from a "b-" rating to a "c+" rating in a report on Tuesday, February 27th.

CrossAmerica Partners Price Performance

The company has a current ratio of 0.67, a quick ratio of 0.35 and a debt-to-equity ratio of 250.71. The company has a market cap of $877.34 million, a PE ratio of 22.02 and a beta of 1.53. The firm has a 50 day moving average of $22.29 and a two-hundred day moving average of $22.47.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.20. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.11 billion. CrossAmerica Partners had a return on equity of 197.82% and a net margin of 0.93%. Research analysts predict that CrossAmerica Partners LP will post 0.95 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $2.10 annualized dividend and a dividend yield of 9.09%. CrossAmerica Partners's payout ratio is currently 200.00%.

Institutional Trading of CrossAmerica Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CAPL. Mirae Asset Global Investments Co. Ltd. boosted its stake in CrossAmerica Partners by 4.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 646,510 shares of the oil and gas company's stock valued at $14,023,000 after purchasing an additional 24,730 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in CrossAmerica Partners during the 3rd quarter valued at $205,000. Raymond James Financial Services Advisors Inc. boosted its stake in CrossAmerica Partners by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 198,611 shares of the oil and gas company's stock valued at $4,308,000 after purchasing an additional 6,651 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in CrossAmerica Partners by 24.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,350 shares of the oil and gas company's stock valued at $463,000 after purchasing an additional 4,202 shares during the last quarter. Finally, Tortoise Index Solutions LLC boosted its stake in CrossAmerica Partners by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 24,095 shares of the oil and gas company's stock valued at $549,000 after purchasing an additional 2,745 shares during the last quarter. Hedge funds and other institutional investors own 24.06% of the company's stock.

About CrossAmerica Partners

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.