CrossAmerica Partners LP (NYSE:CAPL) Sees Large Increase in Short Interest

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 118,000 shares, an increase of 18.7% from the March 15th total of 99,400 shares. Based on an average trading volume of 43,700 shares, the days-to-cover ratio is currently 2.7 days. Currently, 0.7% of the company's stock are short sold.

Hedge Funds Weigh In On CrossAmerica Partners

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in CrossAmerica Partners in the fourth quarter worth approximately $6,245,000. NewEdge Wealth LLC lifted its stake in shares of CrossAmerica Partners by 112.7% in 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 last quarter. JPMorgan Chase & Co. boosted its holdings in CrossAmerica Partners by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company's stock worth $7,485,000 after purchasing an additional 28,991 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CrossAmerica Partners by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company's stock worth $12,494,000 after buying an additional 28,758 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of CrossAmerica Partners in the third quarter worth about $279,000. Institutional investors and hedge funds own 24.06% of the company's stock.

Analysts Set New Price Targets

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

CrossAmerica Partners Stock Down 1.3 %

Shares of NYSE:CAPL traded down $0.32 during trading on Friday, reaching $23.67. 24,241 shares of the company traded hands, compared to its average volume of 37,961. The firm has a fifty day simple moving average of $23.25 and a 200 day simple moving average of $22.17. CrossAmerica Partners has a 1-year low of $18.43 and a 1-year high of $25.73. The firm has a market cap of $900.88 million, a P/E ratio of 45.52 and a beta of 1.07.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last announced its quarterly earnings data 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. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The business had revenue of $944.22 million during the quarter, compared to analyst estimates of $1.21 billion. As a group, research analysts anticipate that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.10 annualized dividend and a dividend yield of 8.87%. CrossAmerica Partners's payout ratio is 403.85%.

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.