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

CrossAmerica Partners LP (NYSE:CAPL) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 89,400 shares, an increase of 5.2% from the October 15th total of 85,000 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 30,000 shares, the short-interest ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday.

CrossAmerica Partners Stock Performance

NYSE CAPL opened at $20.00 on Tuesday. The company has a market capitalization of $760.94 million, a price-to-earnings ratio of 38.46 and a beta of 1.50. The stock has a 50-day moving average of $20.98 and a 200 day moving average of $20.33. CrossAmerica Partners has a one year low of $18.43 and a one year high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company earned $0.31 earnings per share. On average, equities analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Monday, November 4th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, November 4th. This represents a $2.10 annualized dividend and a dividend yield of 10.50%. CrossAmerica Partners’s payout ratio is 403.85%.

Institutional Trading of CrossAmerica Partners

Several large investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in CrossAmerica Partners by 1.9% during the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock valued at $706,000 after buying an additional 565 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of CrossAmerica Partners in the 1st quarter worth $31,000. Janney Montgomery Scott LLC increased its stake in shares of CrossAmerica Partners by 10.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 1,872 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in CrossAmerica Partners by 376.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,000 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in CrossAmerica Partners by 18.8% during the third quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 4,267 shares in the last quarter. Institutional investors own 24.06% of the company’s stock.

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.