CrossAmerica Partners (NYSE:CAPL) Announces Earnings Results

CrossAmerica Partners (NYSE:CAPL) announced its earnings results on Wednesday. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11, Zacks reports. CrossAmerica Partners had a negative return on equity of 23.68% and a net margin of 1.30%.

CrossAmerica Partners Trading Down 1.2%

Shares of CAPL traded down $0.24 during trading hours on Wednesday, reaching $20.04. 354,846 shares of the stock traded hands, compared to its average volume of 43,699. The company has a market cap of $764.08 million, a P/E ratio of 16.70 and a beta of 0.37. The company’s 50-day moving average price is $21.64 and its two-hundred day moving average price is $20.99. CrossAmerica Partners has a 52-week low of $19.61 and a 52-week high of $25.73.

CrossAmerica Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 2nd were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.5%. CrossAmerica Partners’s dividend payout ratio is 175.00%.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors have recently added to or reduced their stakes in CAPL. Wells Fargo & Company MN raised its position in shares of CrossAmerica Partners by 43.3% during the fourth quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 1,869 shares during the last quarter. Royal Bank of Canada grew its stake in CrossAmerica Partners by 48.7% during the fourth quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock valued at $153,000 after acquiring an additional 2,422 shares in the last quarter. Osaic Holdings Inc. grew its stake in CrossAmerica Partners by 36.3% during the second quarter. Osaic Holdings Inc. now owns 14,301 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 3,812 shares in the last quarter. Citadel Advisors LLC increased its holdings in CrossAmerica Partners by 19.1% in the 3rd 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. Finally, Acadian Asset Management LLC purchased a new stake in CrossAmerica Partners in the 1st quarter worth $535,000. 24.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on CAPL. Wall Street Zen downgraded shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CrossAmerica Partners in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

CrossAmerica Partners Company Profile

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.