CrossAmerica Partners (NYSE:CAPL) Stock Price Down 5.1% - What's Next?

Key Points

• CAPL shares fell 5.1% to about $18.76, with trading volume roughly 148% above its average.
• Quarterly EPS was $0.21, missing the $0.42 consensus estimate, while revenue of $1.19 billion exceeded expectations of $1.02 billion. Analysts’ average rating is Hold.
• The partnership announced a quarterly dividend of $0.525 per share, equivalent to $2.10 annually and an indicated yield of about 11%; its payout ratio is 169.35%.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) shares dropped 5.1% on Monday. The company traded as low as $18.71 and last traded at $18.7640. Approximately 106,846 shares changed hands during trading, an increase of 148% from the average session volume of 43,124 shares. The stock had previously closed at $19.77.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAPL. Zacks Research lowered CrossAmerica Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Weiss Ratings reissued a "hold (c)" rating on shares of CrossAmerica Partners in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has an average rating of "Hold".

CrossAmerica Partners Trading Down 3.4%

The firm's 50 day moving average is $21.97 and its two-hundred day moving average is $22.00. The stock has a market cap of $729.20 million, a price-to-earnings ratio of 15.11 and a beta of 0.29.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its earnings results on Wednesday, November 4th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.21). The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.02 billion. CrossAmerica Partners had a net margin of 1.24% and a negative return on equity of 38.02%. As a group, equities analysts expect that CrossAmerica Partners LP will post 1.07 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, November 2nd will be paid a dividend of $0.5250 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $2.10 annualized dividend and a dividend yield of 11.0%. CrossAmerica Partners's dividend payout ratio is presently 169.35%.

Institutional Trading of CrossAmerica Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC acquired a new stake in shares of CrossAmerica Partners during the third quarter worth $249,000. NewEdge Advisors LLC grew its position in shares of CrossAmerica Partners by 40.0% in the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 600 shares during the period. Gateway Wealth Partners LLC purchased a new stake in shares of CrossAmerica Partners in the first quarter valued at $214,000. Sei Investments Co. purchased a new stake in shares of CrossAmerica Partners in the first quarter valued at $278,000. Finally, NewEdge Wealth LLC increased its stake in 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 purchasing an additional 1,213 shares during the last quarter. 24.06% of the stock is owned by hedge funds and other institutional investors.

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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