CrossAmerica Partners (NYSE:CAPL) Issues Earnings Results

by · The Cerbat Gem

CrossAmerica Partners (NYSE:CAPL – Get Free Report) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11, Zacks reports. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $748.01 million. CrossAmerica Partners had a net margin of 1.14% and a negative return on equity of 9.84%.

CrossAmerica Partners Trading Up 0.2%

CAPL stock traded up $0.03 during mid-day trading on Friday, reaching $20.30. The company’s stock had a trading volume of 53,715 shares, compared to its average volume of 49,382. CrossAmerica Partners has a 12 month low of $19.61 and a 12 month high of $25.73. The business’s 50 day moving average price is $21.61 and its 200 day moving average price is $20.97. The company has a market cap of $773.99 million, a price-to-earnings ratio of 19.71 and a beta of 0.37.

CrossAmerica Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 2nd were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date was Monday, February 2nd. CrossAmerica Partners’s payout ratio is presently 203.88%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CAPL shares. Weiss Ratings restated a “sell (d+)” rating on shares of CrossAmerica Partners in a report on Monday, December 29th. Wall Street Zen cut CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, CrossAmerica Partners presently has a consensus rating of “Sell”.

View Our Latest Report on CAPL

Institutional Trading of CrossAmerica Partners

Several hedge funds have recently modified their holdings of CAPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CrossAmerica Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock valued at $12,774,000 after acquiring an additional 27,767 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of CrossAmerica Partners by 4.8% in the third quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock worth $6,272,000 after purchasing an additional 13,767 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of CrossAmerica Partners by 22.9% in the third quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock valued at $4,186,000 after purchasing an additional 37,093 shares in the last quarter. LPL Financial LLC boosted its position in shares of CrossAmerica Partners by 5.8% during the fourth quarter. LPL Financial LLC now owns 119,713 shares of the oil and gas company’s stock valued at $2,466,000 after buying an additional 6,614 shares during the last quarter. Finally, Mariner LLC boosted its position in shares of CrossAmerica Partners by 7.5% during the third quarter. Mariner LLC now owns 107,873 shares of the oil and gas company’s stock valued at $2,269,000 after buying an additional 7,481 shares during the last quarter. Institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Company Profile

(Get Free Report)

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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