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

CrossAmerica Partners LP (NYSE:CAPL) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 65,945 shares, a growth of 64.7% from the September 30th total of 40,044 shares. Based on an average trading volume of 29,292 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts have commented on CAPL shares. Zacks Research downgraded shares of CrossAmerica Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of CrossAmerica Partners in a research report on Tuesday, September 8th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, CrossAmerica Partners has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC bought a new position in shares of CrossAmerica Partners during the third quarter worth about $249,000. NewEdge Advisors LLC increased its stake in shares of CrossAmerica Partners by 40.0% in the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 600 shares during the period. Gateway Wealth Partners LLC bought a new stake in shares of CrossAmerica Partners during the first quarter valued at approximately $214,000. Sei Investments Co. bought a new stake in shares of CrossAmerica Partners during the first quarter valued at approximately $278,000. Finally, NewEdge Wealth LLC boosted its position in shares of CrossAmerica Partners by 1.3% during the first quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock worth $1,953,000 after buying an additional 1,213 shares during the period. 24.06% of the stock is currently owned by institutional investors.

CrossAmerica Partners Stock Up 0.4%

Shares of CAPL stock opened at $21.20 on Tuesday. CrossAmerica Partners has a 52 week low of $19.78 and a 52 week high of $24.63. The stock has a market capitalization of $809.01 million, a PE ratio of 15.47 and a beta of 0.34. The firm has a 50 day moving average of $22.21 and a two-hundred day moving average of $22.02.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.12. CrossAmerica Partners had a net margin of 1.43% and a negative return on equity of 37.73%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $731.45 million. Analysts expect that CrossAmerica Partners will post 1.23 EPS for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd will be issued a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date is Monday, November 2nd. CrossAmerica Partners’s dividend payout ratio is 153.28%.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership focused on the wholesale distribution of motor fuels and the ownership or leasing of assets used in fuel retailing. The partnership supplies gasoline and diesel to independent dealers, commercial customers, and other retail operators through a network of fuel supply and distribution arrangements.

In addition to fuel distribution, CrossAmerica owns or leases convenience stores, gas stations, and related real estate.