CrossAmerica Partners (NYSE:CAPL) Sees Unusually-High Trading Volume – Should You Buy?

Shares of CrossAmerica Partners LP (NYSE:CAPL) saw strong trading volume on Thursday . 19,859 shares were traded during trading, a decline of 8% from the previous session’s volume of 21,669 shares.The stock last traded at $20.7230 and had previously closed at $20.68.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CAPL. Wall Street Zen downgraded CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CrossAmerica Partners in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

CrossAmerica Partners Stock Down 0.3%

The firm has a 50 day moving average of $20.54 and a two-hundred day moving average of $20.85. The firm has a market capitalization of $788.32 million, a price-to-earnings ratio of 17.23 and a beta of 0.34.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Wednesday, November 5th. The oil and gas company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. The firm had revenue of $971.85 million during the quarter, compared to analysts’ expectations of $780.93 million. CrossAmerica Partners had a net margin of 1.30% and a negative return on equity of 23.68%. Sell-side analysts forecast that CrossAmerica Partners LP will post 0.42 EPS for the current fiscal year.

CrossAmerica Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date of this dividend was Monday, November 3rd. CrossAmerica Partners’s payout ratio is presently 175.00%.

Insiders Place Their Bets

In other news, Director John B. Reilly III acquired 1,871 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were bought at an average price of $19.74 per share, with a total value of $36,933.54. Following the acquisition, the director directly owned 4,969,188 shares in the company, valued at $98,091,771.12. The trade was a 0.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph V. Jr. Topper bought 1,801 shares of the stock in a transaction on Friday, October 10th. The stock was purchased at an average cost of $19.74 per share, with a total value of $35,551.74. Following the acquisition, the director owned 1,859,450 shares in the company, valued at approximately $36,705,543. This represents a 0.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 52.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Mariner LLC lifted its position in shares of CrossAmerica Partners by 7.5% in the 3rd quarter. Mariner LLC now owns 107,873 shares of the oil and gas company’s stock worth $2,269,000 after purchasing an additional 7,481 shares during the period. Citadel Advisors LLC boosted its position in CrossAmerica Partners by 19.1% during the third quarter. Citadel Advisors LLC now owns 15,467 shares of the oil and gas company’s stock valued at $325,000 after acquiring an additional 2,477 shares during the last quarter. Raymond James Financial Inc. grew its holdings in CrossAmerica Partners by 4.8% during the 3rd quarter. Raymond James Financial Inc. now owns 298,248 shares of the oil and gas company’s stock worth $6,272,000 after acquiring an additional 13,767 shares during the period. First Trust Advisors LP raised its position in shares of CrossAmerica Partners by 22.9% in the 3rd quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock worth $4,186,000 after acquiring an additional 37,093 shares in the last quarter. Finally, American Financial Group Inc. lifted its stake in shares of CrossAmerica Partners by 3.4% in the 3rd quarter. American Financial Group Inc. now owns 15,000 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 500 shares during the period. 24.06% of the stock is owned by institutional investors.

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.