CrossAmerica Partners (NYSE:CAPL) Stock Passes Above 50 Day Moving Average - What's Next?

Key Points

• CrossAmerica Partners shares moved above their 50-day moving average, reaching $23.50 before trading at $22.98; the stock’s 50-day and 200-day averages were $22.40 and $21.96, respectively.
• Recent analyst sentiment improved, with Zacks Research and Wall Street Zen upgrading the stock to “strong buy.” MarketBeat reports a consensus “Buy” rating.
• The company reported quarterly earnings of $0.50 per share, beating estimates by $0.12, and maintains a quarterly dividend of $0.525 per share—an annualized yield of approximately 9.1%.

Shares of CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $22.40 and traded as high as $23.50. CrossAmerica Partners shares last traded at $22.98, with a volume of 38,689 shares.

Wall Street Analyst Weigh In

CAPL has been the subject of several recent research reports. Weiss Ratings upgraded CrossAmerica Partners from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Zacks Research raised shares of CrossAmerica Partners from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of CrossAmerica Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

CrossAmerica Partners Trading Down 2.1%

The stock has a market capitalization of $877.22 million, a P/E ratio of 16.77 and a beta of 0.29. The business has a fifty day simple moving average of $22.40 and a 200 day simple moving average of $21.96.

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

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend was Monday, August 3rd. CrossAmerica Partners's payout ratio is currently 153.28%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Gateway Wealth Partners LLC purchased a new stake in CrossAmerica Partners in the 1st quarter valued at about $214,000. Sei Investments Co. purchased a new position in shares of CrossAmerica Partners in the 1st quarter worth approximately $278,000. NewEdge Wealth LLC grew its holdings in shares of CrossAmerica Partners by 1.3% in 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. First Trust Advisors LP increased its position in shares of CrossAmerica Partners by 5.9% during the first quarter. First Trust Advisors LP now owns 190,006 shares of the oil and gas company's stock valued at $3,948,000 after acquiring an additional 10,640 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in CrossAmerica Partners by 48.7% during the fourth quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company's stock worth $153,000 after acquiring an additional 2,422 shares during the period. 24.06% of the stock is owned by institutional investors.

About CrossAmerica Partners

CrossAmerica Partners LP NYSE: CAPL is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco's wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.

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