JPMorgan Chase & Co. Raises Stake in CrossAmerica Partners LP (NYSE:CAPL)

JPMorgan Chase & Co. lifted its stake in CrossAmerica Partners LP (NYSE:CAPL) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 361,231 shares of the oil and gas company’s stock after purchasing an additional 28,991 shares during the period. JPMorgan Chase & Co. owned about 0.95% of CrossAmerica Partners worth $7,485,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CAPL. Thrivent Financial for Lutherans grew its stake in CrossAmerica Partners by 18.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock worth $560,000 after acquiring an additional 4,267 shares in the last quarter. Sanctuary Advisors LLC grew its stake in CrossAmerica Partners by 5.7% in the third quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after purchasing an additional 1,000 shares in the last quarter. Franklin Resources Inc. purchased a new position in CrossAmerica Partners during the 3rd quarter worth $279,000. Finally, EverSource Wealth Advisors LLC raised its position in CrossAmerica Partners by 376.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 24.06% of the company’s stock.

CrossAmerica Partners Stock Performance

Shares of CAPL opened at $22.62 on Wednesday. The company has a 50 day moving average price of $21.17 and a 200-day moving average price of $20.66. CrossAmerica Partners LP has a fifty-two week low of $18.43 and a fifty-two week high of $24.19. The stock has a market capitalization of $860.62 million, a PE ratio of 43.50 and a beta of 1.46.

CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. Equities research analysts forecast that CrossAmerica Partners LP will post 0.42 EPS for the current 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 $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 9.28%. The ex-dividend date of this dividend was Monday, November 4th. CrossAmerica Partners’s dividend payout ratio is currently 403.85%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 15th.

CrossAmerica Partners Company Profile

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.