CrossAmerica Partners LP (NYSE:CAPL) Stock Short Interest Climbs 64.7%

Key Points

• Short interest surged 64.7% to 65,945 shares as of October 15, representing about 0.4% of shares outstanding and 2.3 days of average trading volume.
• CAPL shares recently traded at $21.25, below their 50-day and 200-day moving averages, with a market capitalization of approximately $811 million.
• The company reported quarterly EPS of $0.50, exceeding estimates of $0.38, and declared a quarterly dividend of $0.525, equating to a 9.9% annualized yield; analysts maintain a consensus “Hold” rating.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 65,945 shares, a growth of 64.7% from the September 30th total of 40,044 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 29,292 shares, the days-to-cover ratio is currently 2.3 days.

CrossAmerica Partners Stock Performance

NYSE:CAPL traded down $1.26 during mid-day trading on Monday, reaching $21.25. The stock had a trading volume of 26,948 shares, compared to its average volume of 42,290. The firm has a 50 day moving average price of $22.26 and a two-hundred day moving average price of $22.03. CrossAmerica Partners has a one year low of $19.78 and a one year high of $24.63. The stock has a market capitalization of $811.07 million, a P/E ratio of 15.48 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.12. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $731.45 million. CrossAmerica Partners had a negative return on equity of 37.73% and a net margin of 1.43%. Research analysts forecast that CrossAmerica Partners will post 1.23 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, November 2nd will be paid a $0.5250 dividend. The ex-dividend date is Monday, November 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.9%. CrossAmerica Partners's payout ratio is currently 153.28%.

Institutional Trading of CrossAmerica Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of CAPL. NewEdge Advisors LLC raised its holdings in CrossAmerica Partners by 40.0% during the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 600 shares during the period. Gateway Wealth Partners LLC bought a new stake in CrossAmerica Partners in the first quarter worth about $214,000. Sei Investments Co. purchased a new stake in shares of CrossAmerica Partners during the first quarter valued at $278,000. NewEdge Wealth LLC raised its stake in shares of CrossAmerica Partners by 1.3% during the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company's stock valued at $1,953,000 after acquiring an additional 1,213 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in CrossAmerica Partners by 5.9% during the 1st quarter. First Trust Advisors LP now owns 190,006 shares of the oil and gas company's stock worth $3,948,000 after acquiring an additional 10,640 shares in the last quarter. Hedge funds and other institutional investors own 24.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of CrossAmerica Partners in a research report on Tuesday, September 8th. Zacks Research lowered CrossAmerica Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, CrossAmerica Partners currently has a consensus rating of "Hold".

CrossAmerica Partners Company Profile

CrossAmerica Partners LP NYSE: CAPL is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.

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