Raymond James Financial Inc. Invests $6.25 Million in CrossAmerica Partners LP (NYSE:CAPL)

Raymond James Financial Inc. acquired a new position in shares of CrossAmerica Partners LP (NYSE:CAPL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 283,872 shares of the oil and gas company's stock, valued at approximately $6,245,000. Raymond James Financial Inc. owned approximately 0.75% of CrossAmerica Partners at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in CrossAmerica Partners by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company's stock valued at $7,485,000 after acquiring an additional 28,991 shares in the last quarter. Franklin Resources Inc. bought a new position in CrossAmerica Partners in the 3rd quarter worth approximately $279,000. Allworth Financial LP bought a new position in CrossAmerica Partners in the 4th quarter valued at $44,000. Sanctuary Advisors LLC boosted its holdings in CrossAmerica Partners by 5.7% in the third quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company's stock valued at $377,000 after acquiring an additional 1,000 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its position in CrossAmerica Partners by 112.7% during the 4th quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company's stock valued at $1,567,000 after purchasing an additional 37,736 shares during the period. 24.06% of the stock is owned by institutional investors.

CrossAmerica Partners Stock Performance

NYSE CAPL traded down $0.46 on Wednesday, reaching $23.91. The company had a trading volume of 31,602 shares, compared to its average volume of 37,738. The company's fifty day moving average is $23.32 and its 200-day moving average is $22.22. CrossAmerica Partners LP has a 1-year low of $18.43 and a 1-year high of $25.73. The firm has a market capitalization of $910.01 million, a price-to-earnings ratio of 45.98 and a beta of 1.07.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its earnings results on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.38. The business had revenue of $944.22 million for the quarter, compared to analyst estimates of $1.21 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. On average, research analysts forecast that CrossAmerica Partners LP will post 0.42 earnings per share for the current year.

CrossAmerica Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date is Monday, May 5th. CrossAmerica Partners's dividend payout ratio (DPR) is presently 403.85%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded CrossAmerica Partners from a "buy" rating to a "strong-buy" rating in a research report on Monday, March 24th.

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.