Short Interest in CrossAmerica Partners LP (NYSE:CAPL) Decreases By 28.1%

Key Points

• Short interest in CrossAmerica Partners LP decreased by 28.1% in September, with a total of 35,600 shares sold short as of September 15th.
• The company reported $0.07 earnings per share, missing the consensus estimate of $0.20, despite revenues of approximately $961.93 million for the quarter.
• CrossAmerica Partners announced a quarterly dividend of $0.525 per share, reflecting a yield of 10.3%, although the dividend payout ratio is quite high at 185.84%.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 35,600 shares, a decrease of 28.1% from the August 31st total of 49,500 shares. Currently, 0.2% of the company's shares are sold short. Based on an average trading volume of 31,200 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 31,200 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.2% of the company's shares are sold short.

CrossAmerica Partners Stock Up 0.3%

NYSE CAPL opened at $20.44 on Tuesday. CrossAmerica Partners has a 52 week low of $19.50 and a 52 week high of $25.73. The firm has a market cap of $778.98 million, a PE ratio of 18.09 and a beta of 0.48. The business's fifty day simple moving average is $20.79 and its 200-day simple moving average is $21.76.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.13). CrossAmerica Partners had a net margin of 1.19% and a negative return on equity of 32.78%. The firm had revenue of $961.93 million during the quarter, compared to analyst estimates of $793.52 million. Research analysts expect that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.10 annualized dividend and a yield of 10.3%. CrossAmerica Partners's dividend payout ratio is presently 185.84%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of CrossAmerica Partners from a "hold" rating to a "buy" rating in a research note on Monday, August 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of CrossAmerica Partners in a research note on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, CrossAmerica Partners presently has a consensus rating of "Hold".

Insider Activity

In related news, Director John B. Reilly III acquired 2,706 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $20.01 per share, with a total value of $54,147.06. Following the completion of the transaction, the director directly owned 4,967,317 shares in the company, valued at $99,396,013.17. This trade represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph V. Jr. Topper acquired 2,706 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average cost of $20.01 per share, for a total transaction of $54,147.06. Following the transaction, the director owned 1,857,649 shares in the company, valued at approximately $37,171,556.49. The trade was a 0.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 52.00% of the company's stock.

Hedge Funds Weigh In On CrossAmerica Partners

Several institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. grew its stake in shares of CrossAmerica Partners by 36.3% in the second quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company's stock worth $299,000 after acquiring an additional 3,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CrossAmerica Partners by 4.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company's stock worth $12,774,000 after purchasing an additional 27,767 shares during the period. Quadrant Private Wealth Management LLC boosted its stake in shares of CrossAmerica Partners by 0.4% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 165,991 shares of the oil and gas company's stock valued at $3,473,000 after buying an additional 729 shares during the period. Goldman Sachs Group Inc. grew its position in shares of CrossAmerica Partners by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 39,040 shares of the oil and gas company's stock worth $959,000 after buying an additional 1,375 shares in the last quarter. Finally, Ellsworth Advisors LLC acquired a new position in shares of CrossAmerica Partners during the first quarter worth about $648,000. 24.06% of the stock is owned by institutional investors and hedge funds.

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.

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