CrossAmerica Partners (NYSE:CAPL) Stock Rating Lowered by StockNews.com

CrossAmerica Partners (NYSE:CAPL) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

CrossAmerica Partners Stock Performance

CAPL opened at $23.49 on Friday. The stock has a market cap of $893.84 million, a price-to-earnings ratio of 45.16 and a beta of 1.48. The stock’s 50 day moving average price is $22.75 and its 200-day moving average price is $21.59. CrossAmerica Partners has a one year low of $18.43 and a one year high of $23.97.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.38. The firm had revenue of $944.22 million for the quarter, compared to analysts’ expectations of $1.21 billion. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. As a group, analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of CrossAmerica Partners by 8.7% in the third quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock valued at $7,485,000 after purchasing an additional 28,991 shares during the period. Franklin Resources Inc. purchased a new stake in shares of CrossAmerica Partners in the third quarter valued at approximately $279,000. Sanctuary Advisors LLC boosted its holdings in shares of 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 valued at $377,000 after purchasing an additional 1,000 shares during the period. Allworth Financial LP purchased a new stake in shares of CrossAmerica Partners in the fourth quarter valued at approximately $44,000. Finally, NewEdge Wealth LLC boosted its holdings in shares of CrossAmerica Partners by 112.7% in the fourth quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company’s stock valued at $1,567,000 after purchasing an additional 37,736 shares during the period. Institutional investors own 24.06% of the company’s stock.

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.